Delaware
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001-11001
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06-0619596
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(State or other jurisdiction of incorporation)
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(Commission File Number)
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(IRS Employer Identification Number)
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☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Item 1.03 |
Bankruptcy or Receivership.
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the applicable (x) Debtors, with the consent of the Consenting Noteholders then holding greater than 50.1% of the aggregate outstanding principal amount of senior notes claims that are held by all Consenting Noteholders subject to the
Restructuring Support Agreement as of such date (the “Required Consenting Noteholders”), or (y) Reorganized Debtors taking any action as may be necessary or advisable to effectuate the restructuring transactions described in the Plan and
Restructuring Transactions Memorandum (as defined in the Plan), including;
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the execution, delivery, and filing of any organizational and governance documents for the Reorganized Company Parties;
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any and all actions necessary or appropriate to effectuate the Secured Creditor Settlement (as defined below); and
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the execution, delivery, and filing of all agreements, indentures, notes, filings, documents, and instruments delivered or entered into in connection with one or more debtor-in-possession financing facilities, which shall be used to repay
certain of the Company Parties’ prepetition secured indebtedness and shall convert into an exit facility on the Effective Date (the “DIP-to-Exit Facility”), and the debtor-in-possession revolving financing facility, which shall, subject to
certain conditions, convert into an exit revolving facility (the “DIP-to-Exit Revolving Facility” and, together with the DIP-to-Exit Facility, the “DIP Facilities”);
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the final satisfaction, compromise, settlement, release, and discharge of claims arising under, derived from, secured by, based on, or related to the DIP-to-Exit Facility documents or the DIP-to-Exit Revolving Facility documents, on the
Effective Date in exchange for payment in full in cash or, at the Company Parties’ election, and solely to the extent permitted under the DIP-to-Exit Facility documents or the DIP-to-Exit Revolving Facility documents, as applicable, or as
otherwise agreed, such holder’s pro rata share of the applicable exit facilities;
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on the Effective Date, issuance of takeback debt by one or more of the Reorganized Company Parties (the “Takeback Debt”), in a principal amount of $750 million, which shall include the following terms:
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an interest rate that is either (a) no more than 2.50% higher than the interest rate of the next most junior secured debt facility to be entered into on the Effective Date if the Takeback Debt is secured on a third lien basis or (b) no
more than 3.50% higher than the interest rate of the most junior secured debt facility to be entered into on the Effective Date if the Takeback Debt is unsecured;
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a maturity of no less than one year outside of the longest-dated debt facility to be entered into by the Reorganized Company Parties on the Effective Date, provided that in no event shall the maturity of the Takeback Debt be longer than
eight years from the Effective Date;
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to the extent the Second Lien Notes (as defined below) claims are reinstated under the Plan, the Takeback Debt will be third lien debt, provided that to the extent the Second Lien Notes claims are paid in full in cash during the pendency
of the Chapter 11 Cases or under the Plan, the Company Parties and the Required Consenting Noteholders will agree on whether the Takeback Debt will be secured or unsecured, within three business days of the Company Parties’ delivery to the
Consenting Noteholders of a term sheet for the financing to repay the Second Lien Notes in full in cash that contains terms and conditions reasonably acceptable to the Company Parties and the Required Consenting Noteholders;
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the Takeback Debt amount is subject to downward adjustment by the Consenting Noteholders holding at least sixty-six and two-thirds percent of the aggregate outstanding principal amount of senior notes that are held by all Consenting
Noteholders; and
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all other terms including, without limitation, covenants and governance, shall be reasonably acceptable to the Company Parties and the Required Consenting Noteholders; provided that such terms shall not be more restrictive than those in
the indenture for the Second Lien Notes.
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at the option of the applicable Reorganized Company Party, holders of secured claims against a Company Party that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code
(determined irrespective of time limitations) (the “Secured Tax Claims”) shall receive (i) payment in full in cash or (ii) payment in cash made in equal semi-annual cash payments commencing as of the Effective Date or as soon as reasonably
practicable thereafter and continuing for five years, in an aggregate amount equal to such claim, together with interest at the applicable non-default contract rate under non-bankruptcy law;
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at the option of the applicable Company Party, holders of claims entitled to priority in right of payment under section 507(a) of the Bankruptcy Code other than Administrative Claims or Priority Tax Claims (each as defined in the Plan)
shall receive payment in full in cash or such other treatment rendering such claims unimpaired;
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claims arising under, derived from, based on, or related to the prepetition senior secured revolving credit facility (the “Revolving Credit Facility”) provided for under that certain credit agreement, dated as of February 27, 2017 (the
“Credit Agreement”), by and among the Company, as the borrower, JPMorgan Chase Bank, N.A., as administrative agent, and the lenders party thereto, shall be repaid on or before the Effective Date, including payment of interest payments
calculated at the non-default contract rate through the earlier of the Effective Date or repayment of the Revolving Credit Facility in full in cash (which shall include accrued but unpaid postpetition interest);
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claims arising under, derived from, based on, or related to the prepetition senior secured term loan facility (the “Term Loan Facility”) provided for under the Credit Agreement shall be repaid on or before the Effective Date or reinstated
on the Effective Date solely in the event that financing to repay such claims cannot be obtained, including payment of interest payments calculated at the non-default contract rate through the earlier of the Effective Date or repayment of the
Term Loan Facility in full in cash (which shall include accrued but unpaid postpetition interest);
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claims arising under, derived from, based on, or related to the 8.000% first lien secured notes (the “First Lien Notes”) due April 1, 2027, issued pursuant to the indenture, dated as of March 15, 2019, by and among the Company, as issuer,
the subsidiary guarantors party thereto, JPMorgan Chase Bank, N.A., as collateral agent, and Wilmington Trust, National Association, as successor trustee shall be repaid on or before the Effective Date or reinstated on the Effective Date,
including payment of interest payments calculated at the non-default contract rate through the earlier of the Effective Date or repayment of the First Lien Notes in full in cash (which shall provide for the payment of accrued but unpaid
postpetition interest).
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claims arising under, derived from, based on, or related to the Company’s 8.500% second lien secured notes (the “Second Lien Notes”) due April 1, 2026, issued pursuant to that certain indenture, dated as of March 19, 2018, by and among
the Company, as issuer, the subsidiary guarantors party thereto, and Wilmington Savings Fund Society FSB, as successor trustee and successor collateral agent (the “Second Lien Notes Trustee”) shall be repaid on or before the Effective Date or
reinstated on the Effective Date, including payment of interest payments calculated at the non-default contract rate as required through the earlier of the Effective Date or repayment of the Second Lien Notes in full in cash (which shall
provide for the payment of accrued but unpaid postpetition interest).
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claims arising under, derived from, based on or related to (a) the 8.500% secured notes due November 15, 2031, issued by Frontier Southwest Incorporated pursuant to the Restated Indenture, dated June 1, 1940, by and among Frontier
Southwest Incorporated, as issuer, and BOKF, NA, as successor trustee, and (b) Rural Utilities Service loan contracts due January 3, 2028 (collectively, the “Subsidiary Secured Notes”) shall be reinstated on the Effective Date, with holders
of such claims receiving ordinary course cash interest payments at the applicable non-default contract rate through the Effective Date;
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claims arising under, derived from, based on or related to the 6.750% unsecured notes due May 15, 2027 issued by Frontier California Inc., the 6.860% unsecured notes due February 1, 2028 issued by Frontier Florida LLC, the 6.730% unsecured
notes due February 15, 2028, issued by Frontier North Inc., the 8.400% unsecured notes due October 15, 2029 issued by Frontier West Virginia Inc. and the applicable indentures, debentures and purchase agreements associated therewith shall be
reinstated on the Effective Date, with holders of such claims receiving ordinary course cash interest payments at the applicable non-default contract rate through the Effective Date;
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holders of claims arising under, derived from, based on, or related to the unsecured notes issued by the Company shall receive their (i) pro rata share of and interest in the Incremental Senior Notes Payment Amount (as defined in the Plan)
and (ii) pro rata share of and interest in (after first reducing, for distribution purposes only, the amount of each such holder’s senior notes claim on a dollar-for-dollar basis by the amount of Incremental Senior Notes Payments, and solely
to the extent actually paid): (a) 100% of the Reorganized Company’s new common stock, subject to dilution by the Reorganized Company’s management incentive plan; (b) the Takeback Debt, if any; and (c) the Surplus Cash (as defined in the
Plan), if any;
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to the extent not already satisfied during the Chapter 11 Cases, holders of certain other claims that are not secured shall receive: (i) payment in full in cash; (ii) reinstatement; or (iii) such other treatment rendering such claims
unimpaired, in each case as reasonably acceptable to the Company Parties and the Required Consenting Noteholders;
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holders of secured claims (other than claims arising under, derived from, based on or related to the Revolving Credit Facility, the Term Loan Facility, the First Lien Notes, the Second Lien Notes, the Subsidiary Secured Notes, the Secured
Tax Claims or the DIP Facilities) shall receive, at the option of the applicable Company Party: (i) payment in full in cash, (ii) reinstatement; (iii) delivery of the collateral securing such claim; or (iv) such other treatment rendering such
claim unimpaired;
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claims subject to subordination under section 510(b) of the Bankruptcy Code shall be cancelled, released, discharged, and extinguished;
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all intercompany claims and intercompany interests shall be either (a) reinstated or (b) cancelled on the Effective Date; and
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all equity securities in the Company shall be cancelled, released and extinguished on the Effective Date.
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holders of Term Loan Facility claims, First Lien Notes claims, and Second Lien Notes claims, and the First Lien Committee and Second Lien Committee, shall be deemed to have consented to reinstatement and shall not allege, and shall be
deemed to have waived and foregone any objections to, any defaults arising from the transactions set forth in the Plan;
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holders of Term Loan Facility claims, First Lien Notes claims, and Second Lien Notes claims, and the First Lien Committee and Second Lien Committee shall be deemed to have consented to and shall not impede or otherwise delay the Debtors’
pursuit of certain debtor in possession/exit financing facilities;
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holders of Term Loan Facility claims, First Lien Notes claims, and Second Lien Notes claims, and the First Lien Committee and Second Lien Committee, shall waive and forgo any and all “make-whole” claims and claims to default interest under
the Credit Agreement, the First Lien Notes indenture, and/or the Second Lien Notes indenture, as applicable;
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holders of Revolving Credit Facility claims, Term Loan Facility claims, First Lien Notes claims (including the First Lien Committee), the applicable agents, and the First Lien Notes trustee shall be deemed to have waived any enforcement of
any turnover or payment over rights under the Junior Lien Intercreditor and Subordination Agreement, dated as of March 19, 2018, against the Debtors, Second Lien notes trustee, or holders of Second Lien Notes claims with respect to certain
obligations and amounts;
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the Company Parties shall make a $48,200,000 payment to holders of Term Loan Facility claims, a $9,300,000 payment for the benefit of holders of First Lien Notes claims, and, in the event that the Effective Date occurs on or after March
31, 2021, an incremental payment of $7,500,000 to holders of Term Loan Facility claims;
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the Company Parties or the Reorganized Company Parties, as applicable, shall pay in full in cash all reasonable First Lien Committee fees and Second Lien Committee fees that are due and owing under the applicable engagement letters; and
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all adequate protection currently in effect shall remain in effect until entry of a final adequate protection order and, upon the Company Parties’ entry into any DIP Facilities, the Bankruptcy Court shall enter a final adequate protection
order granting, among other things, adequate protection to secured creditors in the form of (i) liens and claims on all collateral securing any future DIP Facilities, and (ii) cash payments in the amount of accrued interest.
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Item 8.01 |
Other Events.
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Item 9.01 |
Financial Statements and Exhibits
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Exhibit No.
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Description of Exhibit
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Order Confirming the Fifth Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code.
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Press Release dated August 21, 2020.
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104
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The cover page of Frontier Communications Corporation’s Current Report on Form 8-K dated August 27, 2020, formatted in inline XBRL.
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FRONTIER COMMUNICATIONS CORPORATION
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Date: August 27, 2020
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By:
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/s/ Mark D. Nielsen
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Mark D. Nielsen
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Executive Vice President, Chief Legal Officer and Chief Transaction Officer
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)
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In re:
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)
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Chapter 11
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)
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FRONTIER COMMUNICATIONS
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)
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Case No. 20-22476 (RDD)
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CORPORATION, et al.,1
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)
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)
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Debtors.
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)
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(Jointly Administered)
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)
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FINDINGS OF FACT, CONCLUSIONS OF LAW,
AND ORDER CONFIRMING THE FIFTH AMENDED JOINT PLAN OF
REORGANIZATION OF FRONTIER COMMUNICATIONS CORPORATION AND ITS
DEBTOR AFFILIATES PURSUANT TO CHAPTER 11 OF THE BANKRUPTCY CODE
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a. |
commenced the above-captioned chapter 11 cases (collectively, the “Chapter 11 Cases”) by filing voluntary petitions for relief under chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) on April 14, 2020
(the “Petition Date”);
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b. |
continued to operate their businesses and manage their properties as debtors in possession pursuant to sections 1107(a) and 1108 of the Bankruptcy Code;
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c. |
filed, on May 15, 2020, (i) the Joint Plan of Reorganization of Frontier Communications Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 281], (ii)
the Disclosure Statement Relating to the Joint Plan of Reorganization of Frontier Communications Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 282],
and (iii) the Debtors’ Motion for Entry of an Order Approving (I) the Adequacy of the Disclosure Statement, (II) Solicitation and Notice Procedures, (III) Forms of Ballots and Notices in Connection
Therewith, and (IV) Certain Dates with Respect Thereto [Docket No. 287] (the “Disclosure Statement Motion”);
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1 |
The last four digits of Debtor Frontier Communications Corporation’s tax identification number are 9596. Due to the large number of debtor entities in these chapter 11 cases, for which the Court
has ordered joint administration, a complete list of the debtor entities and the last four digits of their federal tax identification numbers are not provided herein. A complete list of such information may be obtained on the website of
the Debtors’ claims and noticing agent at https://cases.primeclerk.com/ftr. The location of the Debtors’ service address for purposes of these chapter 11 cases is: 50 Main Street, Suite 1000, White Plains, New York 10606.
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2 |
All capitalized terms used and not otherwise defined in this order (this “Confirmation Order”) shall have the meanings ascribed to them in the Plan (as defined herein). The rules of
interpretation set forth in Article I, Section B of the Plan shall apply to this Confirmation Order.
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d. |
filed, on June 29, 2020, (i) the Disclosure Statement Relating to the Second Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtors Affiliates Pursuant to Chapter 11 of
the Bankruptcy Code [Docket No. 626], (ii) the Second Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy
Code [Docket No. 627], and (iii) the Notice of Filing of Revised Proposed Order Approving (I) the Adequacy of the Disclosure Statement, (II) Solicitation and Notice Procedures, (III) Forms of
Ballots and Notices in Connection Therewith, and (IV) Certain Dates with Respect Thereto [Docket No. 628], which included the revised proposed Order Approving (I) the Adequacy of the Disclosure
Statement, (II) Solicitation and Notice Procedures, (III) Forms of Ballots and Notices in Connection Therewith, and (IV) Certain Dates with Respect Thereto [Docket No. 628, Ex. A];
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filed, on June 30, 2020, (i) the Solicitation Version of the Disclosure Statement Relating to the Third Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtors
Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 648] (as amended, supplemented, or otherwise modified from time to time, the “Disclosure Statement”) and (ii) the Third
Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 649];
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caused solicitation materials and notice of the deadline for objecting to confirmation of the Plan to be distributed by July 2, 2020 (the “Solicitation”), and continuing thereafter, consistent with the Bankruptcy Code, the Federal
Rules of Bankruptcy Procedure (the “Bankruptcy Rules”), and the Disclosure Statement Order (as defined herein), which Disclosure Statement Order also approved, among other things, solicitation procedures (the “Solicitation
Procedures”) and related notices, forms, Ballots, and Master Ballots (collectively, the “Solicitation Packages”), as evidenced by, among other things, the Affidavit of Service [Docket
No. 704];
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caused notice of the Confirmation Hearing (the “Confirmation Hearing Notice”) to be published on July 8, 2020 in The New York Times, as evidenced by the Affidavit
of Publication of The New York Times of Notice of Hearing to Consider Confirmation of Chapter 11 Plan Filed by the Debtors and Related Voting and Objection Deadlines [Docket No. 696];
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filed, on July 20, 2020, Debtors’ Opening Brief in Support of Confirmation of the Third Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to
Chapter 11 of the Bankruptcy Code [Docket No. 747] (the “Opening Confirmation Brief”);
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filed, on August 3, 2020, the Declaration of James Daloia of Prime Clerk LLC Regarding Solicitation of Votes and Tabulation of Ballots Cast on the Third Amended Joint Plan of Reorganization of Frontier
Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 876] (as may be amended, modified, or supplemented, the “Voting Certification”);
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filed, on August 5, 2020, the Notice of Adjournment of Joint Hearing on Confirmation of the Plan and (A) Final Approval of DIP Financing and Related Motion to Redact the DIP Letters and (B) the Proposed
Final Adequate Protection Order [Docket No. 891];
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k. |
filed, on August 14, 2020, the Debtors’ Initial Reply Brief in Support of Confirmation of the Third Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates
Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 936] (the “Initial Reply Confirmation Brief”)
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filed, on August 17, 2020, (i) the Debtors’ Supplemental Brief in Support of (I) Approval of the Secured Creditor Settlement and (II) Confirmation of the Fourth Amended Joint Plan of Reorganization of
Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 950, Ex. A] (the “Supplemental Confirmation Brief”), (ii) the Fourth
Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 950, Ex. A to Ex. A], and (iii) the Proposed
Findings of Fact, Conclusions of Law, and Order Confirming the Fourth Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No.
950, Ex. B];
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filed, on August 18, 2020, (i) the Declaration of Robert Del Genio [Docket No. 959] (the “Del Genio Declaration”), relating to the liquidation analysis for the Debtors, attached as Exhibit
D to the Disclosure Statement (the “Liquidation Analysis”) and (ii) the Declaration of Daniel Mendelow [Docket No. 960] (the “Mendelow Declaration”), relating to the valuation
analysis for the Debtors, attached as Exhibit F to the Disclosure Statement (the “Valuation Analysis”); and
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filed, on August 20, 2020, (i) the Supplemental Declaration of James Daloia of Prime Clerk LLC Regarding Solicitation of Votes and Tabulation of Ballots Cast on the Third Amended Joint Plan Of
Reorganization of Frontier Communications Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 971] (the “Supplemental Voting Certification,” together with the Voting Certification,
the “Voting Certifications”), (ii) the Declaration of Carlin Adrianopoli [Docket No. 972] (the “Adrianopoli Declaration”), regarding the Plan’s compliance with section 1129 of the
Bankruptcy Code, (iii) the Declaration of Roopesh Shah [Docket No. 973] (the “Shah Declaration,” together with the Del Genio Declaration, the Mendelow Declaration, and the Adrianopoli
Declaration, the “Confirmation Declarations”) relating to the Secured Creditor Settlement and the feasibility of the Plan, and (v) the Debtors’ Reply Brief in Support of Confirmation of the Fourth
Amended Joint Plan of Reorganization of Frontier Communications Corporation and Its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No. 979] (the “Reply Confirmation Brief,” together with the Opening
Confirmation Brief, the Initial Reply Confirmation Brief, and the Supplemental Confirmation Brief, the “Confirmation Briefs”); and
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filed, on August 21, 2020, (i) the Fifth Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket
No. 984] (as amended, supplemented, or otherwise modified from time to time, the “Plan”), a copy of which attached as Exhibit A hereto, and (ii) the Proposed
Findings of Fact, Conclusions of Law, and Order Confirming the Fifth Amended Joint Plan of Reorganization of Frontier Communications Corporation and its Debtor Affiliates Pursuant to Chapter 11 of the Bankruptcy Code [Docket No.
985].
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a. |
set August 21, 2020 at 10:00 a.m. (prevailing Eastern Time), as the date and time for the commencement of the Confirmation Hearing pursuant to Bankruptcy Rules 3017 and 3018 and sections 1126, 1128 and 1129 of the Bankruptcy Code
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b. |
entered, on June 30, 2020, the Order Approving (I) the Adequacy of the Disclosure Statement, (II) the Solicitation and Notice Procedures, (III) the Forms of Ballots and Notices in Connection Therewith,
and (IV) Certain Dates with Respect Thereto [Docket No. 650] (the “Disclosure Statement Order”);
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c. |
reviewed the Plan, the Plan Supplement, the Disclosure Statement, the Solicitation Packages, the Confirmation Briefs, the Confirmation Declarations, the Voting Certifications, and all pleadings, exhibits, statements, responses, and
comments regarding Confirmation, including all objections, statements, and reservations of rights filed by parties in interest on the docket of the Chapter 11 Cases;
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d. |
held the Confirmation Hearing;
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e. |
heard the statements, arguments, and objections made by counsel in respect of Confirmation;
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f. |
considered all testimony, documents, filings, and other evidence admitted at Confirmation; and
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g. |
overruled any and all objections to the Plan and to Confirmation and all statements and reservations of rights not consensually resolved or withdrawn unless otherwise indicated herein. The Court’s bench ruling at the Confirmation Hearing
is incorporated by reference herein.
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A. |
Findings and Conclusions.
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B. |
Jurisdiction, Venue, Core Proceeding (28 U.S.C. §§ 157(b)(2) and 1334(a)).
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C. |
Eligibility for Relief.
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D. |
Judicial Notice.
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E. |
Notice and Transmittal of Solicitation Materials; Adequacy of Solicitation Notices.
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F. |
Voting.
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G. |
Good-Faith Solicitation (11 U.S.C. § 1125(e)).
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H. |
Plan Supplement.
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I. |
Modifications to the Plan.
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J. |
Objections.
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K. |
Burden of Proof.
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L. |
Bankruptcy Rule 3016.
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M. |
Plan Compliance with the Bankruptcy Code (11 U.S.C. § 1129(a)(1)).
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a. |
Proper Classification (11 U.S.C. §§ 1122 and 1123(a)(1)). As required by section 1123(a)(1), in addition to Administrative Claims, Professional Fee Claims, DIP Claims, and Priority Tax Claims, which need not be classified, Article III of the Plan designates 15 Classes of
Claims and Interests. As required by section 1122(a) of the Bankruptcy Code, the Claims and Interests placed in each Class are substantially similar to other Claims and Interests, as applicable, in each such Class. Valid business,
factual, and legal reasons exist for separately classifying the various Classes of Claims and Interests created under the Plan, and such Classes do not unfairly discriminate between holders of Claims and Interests. Thus, the Plan satisfies
sections 1122 and 1123(a)(1) of the Bankruptcy Code.
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b. |
Specified Unimpaired Classes (11 U.S.C. § 1123(a)(2)). Article III of the Plan specifies that Classes 1, 2, 3, 8, 9, and 11 are Unimpaired under the Plan, and Classes 13 and 14 are either deemed Unimpaired or Impaired under the Plan, thereby satisfying section 1123(a)(2) of
the Bankruptcy Code.
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c. |
Specified Treatment of Impaired Classes (11 U.S.C. § 1123(a)(3)). Article III of the Plan specifies that Classes 4, 5, 6, 7, 10, 12, and 15 are Impaired under the Plan, and that Classes 13 and 14 are either deemed Unimpaired or Impaired under the Plan, thereby satisfying
section 1123(a)(3) of the Bankruptcy Code.
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d. |
No Discrimination (11 U.S.C. § 1123(a)(4)).
Article III of the Plan provides for the same treatment by the Debtors for each Claim or Interest in each respective Class except to the extent that a holder of a particular Claim or Interest has agreed to a less favorable treatment of such
Claim or Interest, thereby satisfying section 1123(a)(4) of the Bankruptcy Code.
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e. |
Implementation of the Plan (11 U.S.C. § 1123(a)(5)). The Plan and the various documents included in the Plan Supplement provide adequate and proper means for implementation of the Plan, including, without limitation: (i) the consummation of the Restructuring
Transactions; (ii) the execution and delivery of Definitive Documents, as applicable, including those agreements or other documents of merger, amalgamation, consolidation, contribution, restructuring, conversion, disposition, transfer,
arrangement, continuance, dissolution, sale, purchase, or liquidation containing terms that are consistent with the terms of the Plan; (iii) the execution and delivery of appropriate instruments of transfer, assignment, assumption, or
delegation of any asset, property, right, liability, debt, or obligation on terms consistent with the terms of the Plan and the Plan Supplement (as may be modified pursuant to the terms of the Plan); (iv) the filing of appropriate
certificates or articles of incorporation, reincorporation, merger, consolidation, contribution, conversion, amalgamation, arrangement, continuance, or dissolution pursuant to applicable state or local law; (v) the issuance of Reorganized
Frontier’s New Common Stock; (vi) the cancellation of certain existing agreements, obligations, instruments, and Interests; (vii) the continued vesting of the assets of the Debtors’ Estates, including all Executory Contracts and Unexpired
Leases assumed by the Debtors in the Reorganized Debtors; and (viii) all other actions that the Debtors determine to be necessary, including making filings or recordings that may be required by applicable law in connection with the Plan,
thereby satisfying section 1123(a)(5) of the Bankruptcy Code.
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f. |
Non-Voting Equity Securities (11 U.S.C. § 1123(a)(6)). As required by section 1123(a)(6) of the Bankruptcy Code, the New Organizational Documents include, among other things, a provision prohibiting the issuance of non-voting equity Securities and provide for an appropriate
distribution of voting power among the classes of Securities possessing voting power.
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g. |
Designation of Directors and Officers (11 U.S.C. § 1123(a)(7)). The Plan satisfies the requirements of section 1123(a)(7) of the Bankruptcy Code. The Plan and Plan Supplement disclose the individuals who are known that will serve as the Reorganized Debtors’ officers and
directors. The Plan and the New Organizational Documents, as applicable, are consistent with the interests of the creditors and equity security holders and with public policy with respect to the manner of selection of the Reorganized
Debtors’ officers and directors. Accordingly, the Debtors have satisfied section 1129(a)(5) of the Bankruptcy Code.
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h. |
Additional Plan Provisions (11 U.S.C. § 1123(b)). The additional provisions of the Plan are appropriate and consistent with the applicable provisions of the Bankruptcy Code and, therefore, are consistent with section 1123(b) of the Bankruptcy Code.
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(i) |
Impairment/Unimpairment of Any Class of Claims or Interests (11 U.S.C. § 1123(b)(1)). As contemplated by section 1123(b)(1) of the Bankruptcy Code, pursuant to the Plan, Classes 1, 2, 3, 8, 9, and 11 are Unimpaired, Classes 4, 5, 6, 7, 10, 12, and 15 are Impaired,
and Classes 13 and 14 are either deemed Unimpaired or Impaired.
|
|
(ii) |
Assumption and Rejection of Executory Contracts and Unexpired Leases (11 U.S.C. § 1123(b)(2)). Article V of the Plan provides that, except as otherwise provided in the Plan, each Executory Contract and Unexpired Lease shall be deemed assumed, without the need for any further
notice to or action, order, or approval of the Bankruptcy Court, as of the Effective Date, pursuant to sections 365 and 1123 of the Bankruptcy Code, unless such Executory Contract or Unexpired Lease: (a) was previously assumed, assumed and
assigned, or rejected by the Debtors; (b) previously expired or terminated pursuant to its own terms; (c) is the subject of a motion to assume, assume and assign, or reject Filed on or before the Confirmation Date that is pending on the
Effective Date; or (d) is designated specifically, or by category, as an Executory Contract or Unexpired Lease on the Schedule of Rejected Executory Contracts and Unexpired Leases, which may be modified up to 45 days after the Effective
Date, if any.
|
|
(iii) |
Compromise and Settlement (11 U.S.C. § 1123(b)(3)(A)). In accordance with section 1123 of the Bankruptcy Code and Bankruptcy Rule 9019, and in consideration for the classification, distributions, releases, and other benefits provided under the Plan, the provisions of the
Plan constitute a good‑faith compromise and settlement of all Claims, Interests, Causes of Action, and controversies released, settled, compromised, discharged, or otherwise resolved pursuant to the Plan. The compromise and settlement of
all such Claims, Interests, Causes of Action, and controversies is fair, equitable, reasonable, and in the best interests of the Debtors, their Estates, and Holders of Claims and Interests.
|
|
(iv) |
Retention of Claims (11 U.S.C. § 1123(b)(3)(B)). The Reorganized Debtors shall retain and may enforce all rights to commence and pursue any and all Causes of Action of the Debtors, whether arising before or after the Petition Date, including any actions specifically enumerated
in the Schedule of Retained Causes of Action, and the Reorganized Debtors’ rights to commence, prosecute, or settle such Causes of Action shall be preserved notwithstanding the occurrence of the Effective Date, other than (i) the Causes of
Action released by the Debtors pursuant to the releases and exculpations contained in the Plan, including in Article VIII of the Plan, and (ii) any Avoidance Actions arising under section 547 of the Bankruptcy Code or any comparable
“preference” action arising under applicable non‑bankruptcy law, which shall be deemed released and waived by the Debtors and Reorganized Debtors as of the Effective Date. Unless any Cause of Action of the Debtors against an Entity is
expressly waived, relinquished, exculpated, released, compromised, or settled in the Plan or pursuant to a Final Order, the Reorganized Debtors expressly reserve all such Causes of Action for later adjudication. Additionally, in accordance
with section 1123(b)(3) of the Bankruptcy Code, any Cause of Action that a Debtor may hold against any Entity shall vest in the applicable Reorganized Debtor, except as otherwise provided in the Plan, including Article VIII of the Plan.
|
|
(v) |
Other Appropriate Provisions (11 U.S.C. § 1123(b)(5)–(6)). The Plan’s other provisions are appropriate and consistent with the applicable provisions of the Bankruptcy Code, including, without limitation, provisions for (1) distributions to holders of Claims, (2) resolution of
Disputed Claims and Interests, (3) allowance of certain Claims, (4) releases by the Debtors of certain parties, (5) releases by certain third parties, (6) exculpation of certain parties, (7) the injunction of certain Claims and causes of
action in order to implement the discharge, release, and exculpation provisions, and (8) retention of this Court’s jurisdiction, thereby satisfying the requirements of sections 1123(b)(5) and (6) of the Bankruptcy Code.
|
|
i. |
Cure of Defaults (11 U.S.C. § 1123(d)).
Article V, Section D of the Plan, provides for the satisfaction of monetary defaults under each Executory Contract and Unexpired Lease to be assumed (or assumed and assigned) pursuant to the Plan.
The Debtors will provide notice of the amount and timing of payment of any such Cure to the parties to the applicable assumed Executory Contracts or Unexpired Leases. As such, the Plan provides that the Debtors will cure, or provide
adequate assurance that the Debtors will promptly cure, defaults with respect to assumed Executory Contracts and Unexpired Leases in compliance with section 365(b)(1) of the Bankruptcy Code. Thus, the Plan complies with section 1123(d) of
the Bankruptcy Code.
|
N. |
The Debtors’ Compliance with the Bankruptcy Code (11 U.S.C. § 1129(a)(2)).
|
|
a. |
the Debtors are eligible debtors under section 109 of the Bankruptcy Code and are proper proponents of the Plan under section 1121(a) of the Bankruptcy Code;
|
|
b. |
the Debtors have complied with applicable provisions of the Bankruptcy Code, except as otherwise provided or permitted by orders of the Bankruptcy Court; and
|
|
c. |
the Debtors have complied with the applicable provisions of the Bankruptcy Code, the Bankruptcy Rules, the Local Rules, and the Disclosure Statement Order in transmitting the Solicitation Materials and related notices and in soliciting and
tabulating the votes on the Plan.
|
O. |
Good Faith Proposal of the Plan (11 U.S.C. § 1129(a)(3)).
|
P. |
Payment for Services or Costs and Expenses (11 U.S.C. § 1129(a)(4)).
|
Q. |
Directors, Officers, and Insiders (11 U.S.C. § 1129(a)(5)).
|
R. |
No Rate Changes (11 U.S.C. § 1129(a)(6)).
|
S. |
Best Interests of Holders of Claims and Interests (11 U.S.C. § 1129(a)(7)).
|
T. |
Acceptance by Certain Classes (11 U.S.C. § 1129(a)(8)).
|
U. |
Treatment of Administrative Claims, Professional Fee Claims, DIP Claims, Priority Tax Claims, Secured Tax Claims, Other Secured Claims, and Other Priority Claims (11 U.S.C. § 1129(a)(9)).
|
V. |
Acceptance By at Least One Impaired Class of Claims (11 U.S.C. § 1129(a)(10)).
|
W. |
Feasibility (11 U.S.C. § 1129(a)(11)).
|
X. |
Payment of Statutory Fees (11 U.S.C. § 1129(a)(12)).
|
Y. |
Retiree Benefits (11 U.S.C. § 1129(a)(13)).
|
Z. |
Non-Applicability of Certain Sections (Sections 1129(a)(14), (15), and (16)).
|
AA. |
Confirmation of Plan Over Non-Acceptance of Impaired Classes (11 U.S.C. § 1129(b)).
|
BB. |
Only One Plan (11 U.S.C. § 1129(c)).
|
CC. |
Principal Purpose of the Plan (11 U.S.C. § 1129(d)).
|
DD. |
Not Small Business Cases (11 U.S.C. § 1129(e)).
|
EE. |
Satisfaction of Confirmation Requirements.
|
FF. |
Valuation.
|
GG. |
Plan Documents.
|
HH. |
Binding and Enforceable.
|
II. |
Vesting of Assets.
|
JJ. |
Executory Contracts and Unexpired Leases.
|
KK. |
Secured Creditor Settlement.
|
LL. |
Discharge, Compromise, Settlement, Release, Exculpation, and Injunction Provisions.
|
MM. |
Debtor Release.
|
NN. |
Third-Party Release.
|
OO. |
Exculpation.
|
PP. |
Injunction.
|
QQ. |
Retention of Jurisdiction.
|
A. |
Confirmation.
|
B. |
Objections.
|
C. |
Omission of Reference to Particular Plan Provisions.
|
D. |
Deemed Acceptance of the Plan as Modified.
|
E. |
Plan Implementation.
|
F. |
Binding Effect.
|
G. |
Plan Classification Controlling.
|
H. |
Effective Date.
|
I. |
Restructuring Transactions.
|
J. |
Distributions.
|
K. |
Securities Registration Exemption.
|
L. |
Retained Assets.
|
M. |
Treatment of Executory Contracts and Unexpired Leases.
|
N. |
Exemption from Transfer Taxes.
|
O. |
Governmental Approvals Not Required.
|
P. |
Filing and Recording.
|
Q. |
Tax Withholding.
|
R. |
Employee Matters
|
S. |
Securities Litigation Plaintiffs.
|
T. |
Pension Benefit Guaranty Corporation.
|
U. |
The DIP Facilities.
|
V. |
Discharge of Claims and Termination of Interests; Compromise and Settlement of Claims, Interests,
and Controversies.
|
W. |
General Unsecured Claims Settlement Procedures.
|
X. |
Parent Litigation Claims.
|
Y. |
The Releases, Injunction, Exculpation, and Related Provisions Under the Plan.
|
Z. |
Certain Government Matters.
|
3
|
“Tax Authorities” means Burnet Central Appraisal District, Texas, The County of Denton, Texas, The County of Bastrop, Texas, Tax Appraisal District of Bell County, The County of Brazos, Texas,
The County of Guadalupe, Texas, The County of Runnels, Texas, Williamson County, Texas, Brown County Appraisal District, Texas, Calhoun County, Texas, Calhoun County Appraisal District, Texas, The County of Cherokee, Texas, Cherokee County
Appraisal District, Texas, The Town of St. Paul, Texas, Celina Independent School District, Texas, The County of Comal, Texas, The County of Comanche, Texas, The County of Coryell, Texas, Gladewater Independent School District, Texas, The
City of Gladewater, Texas, The County of Hardin, Texas, Harrison Central Appraisal District, Texas, The County of Harrison, Texas, The County of Hays, Texas, The County of Henderson, Texas, Lampasas Central Appraisal District, Texas, Mason
Central Appraisal District, Texas, McCulloch County Appraisal District, Texas, The County of Milam, Texas, Newton Independent School District, Texas, The County of Newton, Texas, Coke County Tax Office, Crockett County Tax Office, Edwards
Central Appraisal District, Kimble Central Appraisal District, Schleicher County, Sutton County Appraisal District, Weslaco ISD, City Of Weslaco , Delta Lake Irrigation District, City Of La Feria, Baylor County, Castro County Appraisal
District, Deaf Smith County Appraisal District, City Of Garland, Garland ISD, Carrollton-Farmers Branch ISD, Frisco ISD, Wylie ISD, Bonham ISD, DCURD, Valwood Improvement Authority, Richardson ISD, City Of Colleyville, City Of Grapevine,
Grapevine-Colleyville ISD, Arlington ISD, City Of Azle, City Of Haslet, City Of Haltom City, Johnson County, Grandview ISD, Alvarado ISD, City Of Venus, Trophy Club MUD, City Of Highland Village, S & S CISD, Avalon ISD, City Of Anna,
Princeton ISD, City Of Blue Ridge, Blue Ridge ISD, Bland ISD, City Of Lone Oak, Boles ISD, Houston County, Tyler ISD, City Of Hawkins, City Of Quitman, Quitman ISD, Yantis ISD, Mineola ISD, Brazoria County Tax Office, Austin CAD, Chambers
County Tax Office, Barbers Hill ISD, Sienna Plantation LID, First Colony MUD 9, Fort Bend County MUD 129, Fort Bend County MUD 49, Fort Bend MUD 115, First Colony LID, Fort Bend ISD, Needville ISD, Brazos ISD, Blueridge West MUD, Fort Bend
County MUD 23, Fort Bend County MUD 42, Clear Creek ISD, Dickinson ISD, Santa Fe ISD, GC WCID 8 Alta Loma, City Of Friendswood, Friendswood ISD, Galveston County MUD 43, Galveston County Cons. Dd, Galveston County MUD 31, Galveston County
MUD 39, Galveston County MUD 44, Galveston County MUD 45, Galveston County MUD 46, Crosby ISD, Channelview ISD, Galena Park ISD, Huffman ISD, Baybrook MUD 1, Clear Lake City WA, Crosby MUD, Emerald Forest UD, Harris County FWSD 58, Harris
County MUD 18, Harris County MUD 122, Harris County MUD 373, Harris County WICD 70, Lake MUD, Luce Bayou PUD, Spanish Cove PUD, Tidehaven ISD, Bay City ISD, Matagorda ISD, Willis ISD, Point Aquarius MUD, Corinthian Point MUD 2, Texas National
MUD, Willis, City Of, Far Hills UD, Lake Conroe Hills MUD, Panorama Village, City Of, MC FWSD #6, Lake Conroe Hills MUD, Coldspring ISD, San Jacinto County, City Of Shepherd, San Jacinto Emergency Services District, Shepherd ISD, Burleson
County, Colorado County, Wimberly ISD, Dripping Springs ISD, Karnes County, Kendall County, Kerr County, Menard County, Thorndale ISD, Fayette County, Maricopa County Treasurer, Allen, Allen ISD, Aransas County, Atascosa County, Bee County,
Bexar County, Blanco CAD, Brooks County, Burton ISD, Caldwell CAD, Cameron County, Carrollton, Charlotte ISD, Coleman County TAD, Dallas County, Del Rio, Denton CO. LID # 01, Dilley ISD, Ellis County, Fannin CAD, Fort Bend Co MUD #26, Fort
Bed Co WCID #02, Fort Bend County, Frio Hospital District, Frisco, Galveston County, Gonzales County, Grayson County, Harlingen, Harris Co WCID #21, Harris County, Hays CISD, Hidalgo County, Hopkins County, Houston CAD, Hunt County, Irving
ISD, Jackson County, Jim Wells CAD, Karnes City ISD, Kaufman County, Kenedy County, Kinney CAD, Lamar CAD, Lasara ISD, Lee County, Lewisville ISD, Live Oak CAD, Llano County, Lovejoy ISD, Lucas, Lyford, Lyford CISD, Madison County, Matagorda
County, Mathis ISD, McLennan County, McMullen County, Montgomery County, Morris CAD, Navarro County, Northwest ISD, Nueces County, Palacios ISD, Polk County, Raymondville ISD, Refugio County, Richardson, Rio Grande City CISD, Roanoke,
Robertson County, Rockwall CAD, Roma ISD, Rusk County, Sachse, San Marcos CISD, San Patricio County, Seis Lagos UD, Smith County, Starr County, Sterling County, Sulphur Springs, Sulphur Springs ISD, Tarrant County, Tom Green CAD, Val Verde
County, Van Zandt CAD, Venus ISD, Victoria County, Washington County, Willacy County,Wilson County, Wise County, Wood County, and Wylie.
|
AA. |
Post-Confirmation Notices, Professional Compensation, and Bar Dates.
|
BB. |
Other Fees and Expenses.
|
CC. |
Release of Liens.
|
DD. |
Cancellation of Notes, Instruments, Certificates, and Other Documents.
|
EE. |
Return of Deposits.
|
FF. |
Effect of Confirmation Order on Other Orders.
|
GG. |
Inconsistency.
|
HH. |
Injunctions and Automatic Stay.
|
II. |
Authorization to Consummate.
|
JJ. |
Substantial Consummation.
|
KK. |
No Waiver.
|
LL. |
Severability.
|
MM. |
Effect of Non-Occurrence of Effective Date.
|
NN. |
Dissolution of Statutory Committees.
|
OO. |
Continued Effect of Stays and Injunction.
|
PP. |
Conditions Precedent to the Effective Date.
|
QQ. |
Assumption of Restructuring Support Agreement.
|
RR. |
Waiver of Fourteen-Day Stay.
|
SS. |
Modification of Plan Supplement.
|
TT. |
Post-Confirmation Modification of the Plan.
|
UU. |
Local Rules 3021-1(b) and 3022-1
|
|
a. |
Substantial Consummation of the Plan. The
Debtors anticipate that the Effective Date and substantial consummation of the Plan will the first Business Day after the Confirmation Date on which (a) all conditions precedent to the occurrence of the Effective Date set forth in Article
IX, Section A of the Plan have been satisfied or waived in accordance with Article IX, Section B of the Plan, (b) no stay of the Confirmation Order is in effect, and (c) the Debtors declare the Plan effective.
|
|
b. |
Distributions. The Debtors or Reorganized
Debtors, as applicable, anticipate completing the distributions required under the Plan on or as soon as reasonably practicable after the Effective Date consistent with the provisions of Article III of the Plan.
|
|
c. |
Resolution of Claims. The Debtors or
Reorganized Debtors, as applicable, shall resolve Disputed Claims against the Debtors’ Estates consistent with the provisions of Article VII of the Plan.
|
|
d. |
Preference Actions. Pursuant to Article
IV, Section W of the Plan, as of the Effective Date, all Avoidance Actions shall be waived by the Debtors and their respective Estates.
|
|
e. |
Post-Confirmation Status Reports.
Consistent with Local Rule 3021-1(c), the Reorganized Debtors shall file post‑Confirmation disbursement and status reports every six months until the Chapter 11 Cases are closed by means of a final decree, converted to a case under chapter
7, or dismissed, whichever happens earlier.
|
|
f. |
Motion for Final Decree. Consistent with
Bankruptcy Rule 3022 and Local Rule 3022-1, within fourteen days following the full administration of the Debtors’ Estates, the Reorganized Debtors shall file, on notice to the United States Trustee, an application and a proposed order for
a final decree.
|
VV. |
Retention of Jurisdiction
|
WW. |
Final Order.
|
White Plains, New York
|
|
Dated: August 27, 2020
|
|
/s/ Robert D. Drain
|
|
THE HONORABLE ROBERT D. DRAIN
|
|
UNITED STATES BANKRUPTCY JUDGE
|
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
|
||||
|
|
|
|
|
|
)
|
|
|
|
In re:
|
)
|
|
|
|
|
)
|
|
Chapter 11
|
|
FRONTIER COMMUNICATIONS
|
)
|
|
|
|
CORPORATION, et al., 1 |
)
|
|
Case No. 20-22476 (RDD)
|
|
|
)
|
|
|
|
|
Debtors.
|
)
|
|
(Jointly Administered)
|
|
)
|
|
|
FIFTH AMENDED JOINT PLAN OF REORGANIZATION
OF FRONTIER COMMUNICATIONS CORPORATION AND ITS
DEBTOR AFFILIATES PURSUANT TO CHAPTER 11 OF THE BANKRUPTCY CODE
|
Stephen E. Hessler, P.C.
|
Chad J. Husnick, P.C.
|
||
Mark McKane, P.C. (admitted pro hac vice)
|
Benjamin M. Rhode (admitted pro hac vice)
|
||
Patrick Venter
|
KIRKLAND & ELLIS LLP
|
||
KIRKLAND & ELLIS LLP
|
KIRKLAND & ELLIS INTERNATIONAL LLP
|
||
KIRKLAND & ELLIS INTERNATIONAL LLP
|
300 North LaSalle Street
|
||
601 Lexington Avenue
|
Chicago, Illinois 60654
|
||
New York, New York 10022
|
Telephone:
|
(312) 862-2000
|
|
Telephone:
|
(212) 446-4800
|
Facsimile:
|
(312) 862-2200
|
Facsimile:
|
(212) 446-4900
|
|
|
NOTHING CONTAINED HEREIN SHALL CONSTITUTE AN OFFER, ACCEPTANCE, COMMITMENT, OR LEGALLY BINDING OBLIGATION OF THE DEBTORS OR ANY OTHER PARTY IN INTEREST, AND THIS PLAN IS SUBJECT TO
APPROVAL BY THE BANKRUPTCY COURT AND OTHER CUSTOMARY CONDITIONS. THIS PLAN IS NOT AN OFFER WITH RESPECT TO ANY SECURITIES.
|
|
1 |
The last four digits of Debtor Frontier Communications Corporation’s tax identification number are 9596. Due to the large number of debtor entities in these chapter 11 cases, for which the Court
has ordered joint administration, a complete list of the debtor entities and the last four digits of their federal tax identification numbers are not provided herein. A complete list of such information may be obtained on the website of
the Debtors’ claims and noticing agent at https://cases.primeclerk.com/ftr. The location of the Debtors’ service address for purposes of these chapter 11 cases is: 50 Main Street, Suite 1000, White Plains, New York 10606.
|
|
Page
|
||
|
|||
Introduction
|
1
|
||
|
|||
Article I. Defined Terms, Rules of Interpretation, Computation of Time, Governing Law, and Other References
|
1
|
||
A.
|
Defined Terms
|
1
|
|
B.
|
Rules of Interpretation
|
25
|
|
C.
|
Computation of Time
|
26
|
|
D.
|
Governing Law
|
26
|
|
E.
|
Reference to Monetary Figures
|
26
|
|
F.
|
Reference to the Debtors or the Reorganized Debtors
|
26
|
|
G.
|
Nonconsolidated Plan
|
26
|
|
H.
|
Certain Consent Rights
|
26 | |
Article II. Administrative and Priority Claims
|
27
|
||
A.
|
Administrative Claims
|
27
|
|
B.
|
Professional Fee Claims
|
28
|
|
C.
|
DIP Claims
|
29
|
|
D.
|
Priority Tax Claims
|
30
|
|
Article III. Classification, Treatment, and Voting of Claims and Interests
|
30
|
||
A.
|
Classification of Claims and Interests
|
30
|
|
B.
|
Summary of Classification
|
30
|
|
C.
|
Treatment of Classes of Claims and Interests
|
31
|
|
D.
|
Special Provision Governing Unimpaired Claims
|
40
|
|
E.
|
Elimination of Vacant Classes; Presumed Acceptance by Non‑Voting Classes
|
40
|
|
F.
|
Subordinated Claims
|
40
|
|
G.
|
Intercompany Interests
|
40
|
|
H.
|
Controversy Concerning Impairment
|
41
|
|
I.
|
Confirmation Pursuant to Sections 1129(a)(10) and 1129(b) of the Bankruptcy Code
|
41
|
|
Article IV. Provisions for Implementation of the Plan
|
41
|
||
A.
|
Plan Settlement Provisions
|
41
|
|
B.
|
Restructuring Transactions
|
45
|
|
C.
|
Sources of Consideration for Plan Distributions
|
46
|
|
D.
|
Takeback Debt
|
46
|
|
E.
|
DIP-to-Exit Facility and DIP-to-Exit Revolving Facility
|
48
|
|
F.
|
Issuance and Distribution of the New Common Stock
|
49
|
|
G.
|
Corporate Existence
|
49
|
|
H.
|
New Organizational Documents
|
50
|
|
I.
|
Directors and Officers of the Reorganized Debtors
|
50
|
|
J.
|
FCC Applications and PUC Applications
|
51
|
|
K.
|
Corporate Action
|
51
|
|
L.
|
Vesting of Assets in the Reorganized Debtors
|
52
|
|
M.
|
Cancellation of Notes, Instruments, Certificates, and Other Documents
|
52
|
N.
|
Effectuation and Effect of Reinstatement
|
53
|
|
O.
|
Effectuating Documents; Further Transactions
|
54
|
|
P.
|
Section 1145 Exemption
|
54
|
|
Q.
|
Section 1146(a) Exemption
|
55
|
|
R.
|
Management Incentive Plan
|
55
|
|
S.
|
Employee Matters
|
56
|
|
T.
|
Qualified Defined Benefit Plan
|
56
|
|
U.
|
Workers’ Compensation Programs
|
57
|
|
V.
|
Preservation of Rights of Action
|
57
|
|
W.
|
Release of Preference Actions
|
58
|
|
X.
|
Consenting Noteholder Fees
|
58
|
|
Y.
|
Payment of Trustee Fees
|
58
|
|
Z.
|
Payment of Board Observer Fees
|
59
|
|
Article V. Treatment of Executory Contracts and Unexpired Leases
|
59
|
||
A.
|
Assumption and Rejection of Executory Contracts and Unexpired Leases
|
59
|
|
B.
|
Preexisting Obligations to the Debtors Under Executory Contracts and Unexpired Leases
|
59
|
|
C.
|
Claims Based on Rejection of Executory Contracts or Unexpired Leases
|
60
|
|
D.
|
Cure of Defaults for Executory Contracts and Unexpired Leases Assumed
|
60
|
|
E.
|
Indemnification Provisions
|
61
|
|
F.
|
Restructuring Support Agreement
|
62
|
|
G.
|
Insurance Policies and Surety Bonds
|
62
|
|
H.
|
Reservation of Rights
|
64
|
|
I.
|
Nonoccurrence of Effective Date
|
64
|
|
J.
|
Contracts and Leases Entered into After the Petition Date
|
64
|
|
Article VI. Provisions Governing Distributions
|
65
|
||
A.
|
Timing and Calculation of Amounts to Be Distributed
|
65
|
|
B.
|
Rights and Powers of Distribution Agent
|
65
|
|
C.
|
Delivery of Distributions and Undeliverable or Unclaimed Distributions
|
65
|
|
D.
|
Compliance Matters
|
68
|
|
E.
|
Foreign Currency Exchange Rate
|
69
|
|
F.
|
Claims Paid or Payable by Third Parties
|
69
|
|
G.
|
Setoffs and Recoupment
|
70
|
|
H.
|
Allocation between Principal and Accrued Interest
|
70
|
|
Article VII. Procedures for Resolving Disputed, Contingent, and Unliquidated Claims and Interests
|
70
|
||
A.
|
Disputed Claims Process
|
70
|
|
B.
|
Objections to Claims
|
71
|
|
C.
|
Estimation of Claims
|
71
|
|
D.
|
No Distributions Pending Allowance
|
72
|
|
E.
|
Distributions After Allowance
|
72
|
|
F.
|
No Interest
|
72
|
|
G.
|
Adjustment to Claims and Interests without Objection
|
72
|
|
H.
|
Disallowance of Claims
|
73
|
|
I.
|
Amendments to Proofs of Claim
|
73
|
Article VIII. Effect of Confirmation of the Plan
|
73
|
||
A.
|
Discharge of Claims and Termination of Interests
|
73
|
|
B.
|
Releases by the Debtors
|
74
|
|
C.
|
Releases by Holders of Claims and Interests
|
75
|
|
D.
|
Exculpation
|
76
|
|
E.
|
Injunction
|
76
|
|
F.
|
Release of Liens
|
77
|
|
G.
|
SEC
|
77
|
|
H.
|
No Release of Any Claims Held by the United States and the Navajo Nation
|
77
|
|
I.
|
Protection against Discriminatory Treatment
|
77
|
|
J.
|
Document Retention
|
78
|
|
K.
|
Reimbursement or Contribution
|
78
|
|
L.
|
Term of Injunctions or Stays
|
78
|
|
Article IX. Conditions Precedent to the Effective Date
|
78
|
||
A.
|
Conditions Precedent to the Effective Date.
|
78
|
|
B.
|
Waiver of Conditions Precedent
|
80
|
|
C.
|
Effect of Non-Occurrence of Conditions to Consummation
|
80
|
|
Article X. Modification, Revocation, or Withdrawal of the Plan
|
81
|
||
A.
|
Modification of Plan
|
81
|
|
B.
|
Effect of Confirmation on Modifications
|
81
|
|
C.
|
Revocation or Withdrawal of Plan
|
81
|
|
Article XI. Retention of Jurisdiction
|
81
|
||
Article XII. Miscellaneous Provisions
|
84
|
||
A.
|
Immediate Binding Effect
|
83
|
|
B.
|
Additional Documents
|
84
|
|
C.
|
Payment of Statutory Fees
|
84
|
|
D.
|
Dissolution of Statutory Committees
|
84
|
|
E.
|
Reservation of Rights
|
84
|
|
F.
|
Successors and Assigns
|
85
|
|
G.
|
Service of Documents
|
85
|
|
H.
|
Entire Agreement; Controlling Document
|
86
|
|
I.
|
Plan Supplement
|
86
|
|
J.
|
Non-Severability
|
86
|
|
K.
|
Votes Solicited in Good Faith
|
86
|
|
L.
|
Closing of Chapter 11 Cases
|
87
|
|
M.
|
Waiver or Estoppel
|
87
|
|
N.
|
FCC Rights and Powers
|
87
|
A.
|
Defined Terms
|
B.
|
Rules of Interpretation
|
C.
|
Computation of Time
|
D.
|
Governing Law
|
E.
|
Reference to Monetary Figures
|
F.
|
Reference to the Debtors or the Reorganized Debtors
|
G.
|
Nonconsolidated Plan
|
H.
|
Certain Consent Rights
|
A.
|
Administrative Claims
|
B.
|
Professional Fee Claims
|
C.
|
DIP Claims
|
D.
|
Priority Tax Claims
|
A.
|
Classification of Claims and Interests
|
B.
|
Summary of Classification
|
1 |
The Debtors reserve the right to separately classify Claims or Interests to the extent necessary to comply with any requirements under the Bankruptcy Code or applicable law.
|
Class
|
Claim or Interest
|
Status
|
Voting Rights
|
||||
1
|
Secured Tax Claims
|
Unimpaired
|
Not Entitled to Vote (Deemed to Accept) | ||||
2
|
Other Secured Claims
|
Unimpaired
|
Not Entitled to Vote (Deemed to Accept)
|
||||
3
|
Other Priority Claims
|
Unimpaired
|
Not Entitled to Vote (Deemed to Accept)
|
||||
4
|
Revolving Credit Claims
|
Impaired
|
Entitled to Vote
|
||||
5
|
Term Loan Claims
|
Impaired
|
Entitled to Vote
|
||||
6
|
First Lien Notes Claims
|
Impaired
|
Entitled to Vote
|
||||
7
|
Second Lien Notes Claims
|
Impaired
|
Entitled to Vote
|
||||
8
|
Subsidiary Secured Notes Claims
|
Unimpaired
|
Not Entitled to Vote (Deemed to Accept)
|
||||
9
|
Subsidiary Unsecured Notes Claims
|
Unimpaired
|
Not Entitled to Vote (Deemed to Accept)
|
||||
10
|
Senior Notes Claims
|
Impaired
|
Entitled to Vote
|
||||
11
|
General Unsecured Claims
|
Unimpaired
|
Not Entitled to Vote (Deemed to Accept)
|
||||
12
|
Section 510(b) Claims
|
Impaired
|
Not Entitled to Vote (Deemed to Reject)
|
||||
13
|
Intercompany Claims
|
Unimpaired/Impaired
|
Not Entitled to Vote (Presumed to Accept/Deemed to Reject)
|
||||
14
|
Intercompany Interests
|
Unimpaired/Impaired
|
Not Entitled to Vote (Presumed to Accept/Deemed to Reject)
|
||||
15
|
Interests in Frontier
|
Impaired
|
Not Entitled to Vote (Deemed to Reject)
|
C.
|
Treatment of Classes of Claims and Interests
|
|
(a) |
Classification: Class 1 consists of all Secured Tax Claims.
|
|
(b) |
Treatment: Each Holder of an Allowed Secured Tax Claim shall receive, at the option of the applicable Reorganized Debtor:
|
|
(i) |
payment in full in Cash of such Holder’s Allowed Secured Tax Claim; or
|
|
(ii) |
equal semi-annual Cash payments commencing as of the Effective Date or as soon as reasonably practicable thereafter and continuing for five years, in an aggregate amount equal to such Allowed Secured Tax Claim, together with interest
at the applicable non-default contract rate under non‑bankruptcy law, subject to the option of the applicable Reorganized Debtor to prepay the entire amount of such Allowed Secured Tax Claim during such time period.
|
|
(c) |
Voting: Class 1 is Unimpaired under the Plan. Holders of Allowed Secured Tax Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code.
Therefore, such Holders are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 2 consists of all Other Secured Claims.
|
|
(b) |
Treatment: Each Holder of an Allowed Other Secured Claim shall receive, at the option of the applicable Debtor:
|
|
(i) |
payment in full in Cash of such Holder’s Allowed Other Secured Claim;
|
|
(ii) |
Reinstatement of such Holder’s Allowed Other Secured Claim;
|
|
(iii) |
delivery of the collateral securing such Holder’s Allowed Other Secured Claim; or
|
|
(iv) |
such other treatment rendering such Holder’s Allowed Other Secured Claim Unimpaired.
|
|
(c) |
Voting: Class 2 is Unimpaired under the Plan. Holders of Allowed Other Secured Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code.
Therefore, such Holders are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 3 consists of all Other Priority Claims.
|
|
(b) |
Treatment: Each Holder of an Allowed Other Priority Claim shall receive, at the option of the applicable Debtor, payment in full in Cash of such Holder’s Other Priority Claim or such other
treatment rendering such Holder’s Other Priority Claim Unimpaired.
|
|
(c) |
Voting: Class 3 is Unimpaired under the Plan. Holders of Allowed Other Priority Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code.
Therefore, such Holders are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 4 consists of all Revolving Credit Claims.
|
|
(b) |
Allowance: The Revolving Credit Claims are deemed Allowed in an amount equal to the sum of: (i) the principal amount outstanding under the Credit Agreement; and (ii) all accrued but unpaid
interest, costs, fees, and expenses due and owing under the Credit Agreement.
|
|
(c) |
Treatment: Each Holder of an Allowed Revolving Credit Claim shall receive interest payments as required under the Interim Adequate Protection Order or Final Adequate Protection Order, as
applicable, through the earlier of the Effective Date or repayment of the Revolving Credit Facility in full in Cash (which shall provide for the payment of accrued but unpaid postpetition interest calculated at the non-default contract
rate). To the extent not already satisfied in full in Cash during the Chapter 11 Cases, on the Effective Date, each Holder of an Allowed Revolving Credit Claim shall receive, pursuant to the Secured Creditor Settlement, payment in full
in Cash, including accrued but unpaid postpetition interest calculated at the non-default contract rate; provided that any outstanding letters of credit issued under the Revolving Credit Facility
shall be cash collateralized or otherwise backstopped as required by the prepetition Credit Agreement or in a manner reasonably satisfactory to each applicable issuing bank.
|
|
(d) |
Voting: Class 4 is Impaired under the Plan. Therefore, Holders of Allowed Claims in Class 4 are entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 5 consists of all Term Loan Claims.
|
|
(b) |
Allowance: The Term Loan Claims are deemed Allowed in an amount equal to the sum of: (i) the principal amount outstanding under the Credit Agreement; and (ii) all accrued but unpaid interest,
costs, fees, and expenses due and owing under the Credit Agreement.
|
|
(c) |
Treatment: Each Holder of an Allowed Term Loan Claim shall receive interest payments as required under the Interim Adequate Protection Order or Final Adequate Protection Order, as applicable,
through the earlier of the Effective Date or repayment of the Term Loan Facility in full in Cash (which shall provide for the payment of accrued but unpaid postpetition interest calculated at the non-default contract rate). To the extent
not already satisfied in full in Cash during the Chapter 11 Cases, each Holder of an Allowed Term Loan Claim shall receive pursuant to the Secured Creditor Settlement:
|
|
(i) |
on the Effective Date, either (a) payment in full in Cash, including accrued but unpaid postpetition interest calculated at the non-default contract rate; or (b) solely in the event that the Debtors cannot procure financing on terms
acceptable to the Debtors and the Required Consenting Noteholders to repay the Term Loan Facility in full, Reinstatement of any such Allowed Term Loan Claim; and
|
|
(ii) |
its Pro Rata share of and interest in the Term Loan Settlement Payments, as applicable and when due and payable under the terms of the Secured Creditor Settlement.
|
|
(d) |
Voting: Class 5 is Impaired under the Plan. Therefore, Holders of Allowed Claims in Class 5 are entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 6 consists of all First Lien Notes Claims.
|
|
(b) |
Allowance: The First Lien Notes Claims are deemed Allowed in an amount equal to the sum of: (i) the principal amount outstanding under the First Lien Notes Indenture; and (ii) all accrued but
unpaid interest, costs, fees, and expenses due and owing under the First Lien Notes Indenture, provided that no Make-Whole Claim shall be Allowed under the Plan.
|
|
(c) |
Treatment: Each Holder of an Allowed First Lien Notes Claim shall receive interest payments as required under the Interim Adequate Protection Order or Final Adequate Protection Order, as
applicable, through the earlier of the Effective Date or repayment of the First Lien Notes in full in Cash (which shall provide for the payment of accrued but unpaid postpetition interest calculated at the non-default contract rate). To
the extent not already satisfied in full in Cash during the Chapter 11 Cases, each Holder of an Allowed First Lien Notes Claim shall receive pursuant to the Secured Creditor Settlement:
|
|
(i) |
either (a) payment in full in Cash on or prior to the Effective Date, including accrued but unpaid postpetition interest calculated at the non-default contract rate; or (b) solely in the event that the Debtors cannot procure financing
on terms acceptable to the Debtors and the Required Consenting Noteholders to repay the First Lien Notes in full, Reinstatement of any such Allowed First Lien Notes Claim on the Effective Date; and
|
|
(ii) |
its Pro Rata share of and interest in the First Lien Notes Settlement Payment, subject to the conditions in Article IV.A.2.
|
|
(d) |
Voting: Class 6 is Impaired under the Plan. Therefore, Holders of Allowed Claims in Class 6 are entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 7 consists of all Second Lien Notes Claims.
|
|
(b) |
Allowance: The Second Lien Notes Claims are deemed Allowed in an amount equal to the sum of: (i) the principal amount outstanding under the Second Lien Notes Indenture; and (ii) all accrued
but unpaid interest, costs, fees, and expenses due and owing under the Second Lien Notes Indenture, provided that no Make-Whole Claim shall be Allowed under the Plan.
|
|
(c) |
Treatment: Each Holder of an Allowed Second Lien Notes Claim shall receive interest payments as required under the Interim Adequate Protection Order or Final Adequate Protection Order, as
applicable, through the earlier of the Effective Date or repayment of the Second Lien Notes in full in Cash (which shall provide for the payment of accrued but unpaid postpetition interest calculated at the non-default contract rate). To
the extent not already satisfied in full in Cash during the Chapter 11 Cases, on the Effective Date, each Holder of an Allowed Second Lien Notes Claim shall receive either:
|
|
(i) |
payment in full in Cash, including accrued but unpaid postpetition interest calculated at the non-default contract rate; or
|
|
(ii) |
solely in the event that the Debtors cannot procure financing on terms acceptable to the Debtors and the Required Consenting Noteholders to repay the Second Lien Notes in full, Reinstatement of such Allowed Second Lien Notes Claim.
|
|
(d) |
Voting: Class 7 is Impaired under the Plan. Therefore, Holders of Allowed Claims in Class 7 are entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 8 consists of all Subsidiary Secured Notes Claims.
|
|
(b) |
Allowance: The Subsidiary Secured Notes Claims are deemed Allowed in an amount equal to the sum of: (i) the principal amount outstanding, plus accrued but unpaid prepetition interest at the
non-default contract rate under the Verizon Secured Notes Indenture and Rural Utilities Service Loan Contracts, as applicable; (ii) accrued but unpaid postpetition interest at the non-default contract rate; and (iii) any obligations due
and owing under the Verizon Secured Notes Indenture and Rural Utilities Service Loan Contracts to the extent unpaid as of the Effective Date.
|
|
(c) |
Treatment: On the Effective Date, each Allowed Subsidiary Secured Notes Claim shall be Reinstated. Each Holder of an Allowed Subsidiary Secured Notes Claim shall receive ordinary course Cash
interest payments on its Allowed Subsidiary Secured Notes Claim at the applicable non‑default contract rate through the Effective Date.
|
|
(d) |
Voting: Class 8 is Unimpaired under the Plan. Holders of Subsidiary Secured Notes Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy
Code. Therefore, such Holders are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 9 consists of all Subsidiary Unsecured Notes Claims.
|
|
(b) |
Allowance: The Subsidiary Unsecured Notes Claims are deemed Allowed in an amount equal to the sum of: (i) the principal amount outstanding, plus accrued but unpaid prepetition interest at the
non-default contract rate under the Subsidiary Unsecured Notes Indentures and the Unsecured Frontier West Virginia Notes Documents, as applicable; (ii) accrued but unpaid postpetition interest at the non‑default contract rate; and (iii)
any obligations due and owing under the respective Subsidiary Unsecured Notes Indentures and the Unsecured Frontier West Virginia Notes Documents to the extent unpaid as of the Effective Date.
|
|
(c) |
Treatment: On the Effective Date, each Allowed Subsidiary Unsecured Notes Claim shall be Reinstated. Each Holder of an Allowed Subsidiary Unsecured Notes Claim shall receive ordinary course
Cash interest payments on its Allowed Subsidiary Unsecured Notes Claim at the applicable non‑default contract rate through the Effective Date.
|
|
(d) |
Voting: Class 9 is Unimpaired under the Plan. Holders of Subsidiary Unsecured Notes Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy
Code. Therefore, such Holders are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 10 consists of all Senior Notes Claims.
|
|
(b) |
Allowance: On the Effective Date, the Senior Notes Claims shall be deemed Allowed in the aggregate principal amount of $10,948,307,000, plus accrued and unpaid Allowed interest on such
principal amount, plus any other unpaid premiums, fees, costs, or other amounts due and owing pursuant to the Senior Notes Indentures, in each case, up to and including the Petition Date, consisting of:
|
|
(i) |
$172,087,000 in aggregate principal amount on account of the 2020 April Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(ii) |
$54,643,000 in aggregate principal amount on account of the 2020 September Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(iii) |
$89,269,000 in aggregate principal amount on account of the 2021 July Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(iv) |
$219,721,000 in aggregate principal amount on account of the 2021 September Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(v) |
$500,000,000 in aggregate principal amount on account of the 2022 April Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(vi) |
$2,187,537,000 in aggregate principal amount on account of the 2022 September Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(vii) |
$850,000,000 in aggregate principal amount on account of the 2023 Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(viii) |
$750,000,000 in aggregate principal amount on account of the 2024 Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(ix) |
$775,000,000 in aggregate principal amount on account of the 2025 January Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(x) |
$3,600,000,000 in aggregate principal amount on account of the 2025 September Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(xi) |
$138,000,000 in aggregate principal amount on account of the 2025 November Notes, plus accrued and unpaid interest as of the Petition Dates;
|
|
(xii) |
$1,739,000 in aggregate principal amount on account of the 2026 Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(xiii) |
$345,858,000 in aggregate principal amount on account of the 2027 Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(xiv) |
$945,325,000 in aggregate principal amount on account of the 2031 Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(xv) |
$628,000 in aggregate principal amount on account of the 2034 Notes, plus accrued and unpaid interest as of the Petition Date;
|
|
(xvi) |
$125,000,000 in aggregate principal amount on account of the 2035 Notes, plus accrued and unpaid interest as of the Petition Date; and
|
|
(xvii) |
$193,500,000 in aggregate principal amount on account of the 2046 Notes, plus accrued and unpaid interest as of the Petition Date.
|
|
(c) |
Treatment: On the Effective Date, each Holder of an Allowed Senior Notes Claim shall receive
|
|
(i) |
its Pro Rata share of and interest in the Incremental Senior Notes Payment Amount that is to be made on account of such Holders’ series of Senior Notes; and
|
|
(ii) |
its Pro Rata share of and interest in (after first reducing, for distribution purposes only, the amount of such Holder’s Allowed Senior Notes Claim on a dollar-for-dollar basis by the amount of Incremental Senior Notes Payments, and
solely to the extent actually paid):
|
|
A. |
100% of Reorganized Frontier’s New Common Stock, subject to dilution by the Management Incentive Plan;
|
B.
|
the Takeback Debt, if any; and
|
C.
|
the Surplus Cash, if any.
|
|
(d) |
Voting: Class 10 is Impaired under the Plan. Therefore, Holders of Allowed Claims in Class 10 are entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 11 consists of all General Unsecured Claims.
|
|
(b) |
Treatment: To the extent not already satisfied during the Chapter 11 Cases, each Holder of an Allowed General Unsecured Claim shall receive, at the option of the applicable Debtor as reasonably
acceptable to the Required Consenting Noteholders:
|
|
(i) |
payment in full in Cash of such Holder’s Allowed General Unsecured Claim;
|
|
(ii) |
Reinstatement of such Holder’s Allowed General Unsecured Claim; or
|
|
(iii) |
such other treatment rendering such Holder’s Allowed General Unsecured Claim Unimpaired, in each case set forth above as reasonably acceptable to the Debtors and the Required Consenting Noteholders.
|
|
(c) |
Voting: Class 11 is Unimpaired under the Plan. Holders of General Unsecured Claims are conclusively presumed to have accepted the Plan pursuant to section 1126(f) of the Bankruptcy Code.
Therefore, such Holders are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 12 consists of all Section 510(b) Claims.
|
|
(b) |
Allowance: Notwithstanding anything to the contrary herein, a Section 510(b) Claim, if any such Section 510(b) Claim exists, may only become Allowed by Final Order of the Bankruptcy Court.
|
|
(c) |
Treatment: Allowed Section 510(b) Claims, if any, shall be cancelled, released, discharged, and extinguished as of the Effective Date, and will be of no further force or effect, and Holders of
Allowed Section 510(b) Claims will not receive any distribution on account of such Allowed Section 510(b) Claims.
|
|
(d) |
Voting: Class 12 is Impaired under the Plan. Holders (if any) of Section 510(b) Claims are conclusively deemed to have rejected the Plan under section 1126(g) of the Bankruptcy Code.
Therefore, Holders (if any) of Section 510(b) Claims are not entitled to vote to accept or reject the Plan.
|
|
(a) |
Classification: Class 13 consists of all Intercompany Claims.
|
|
(b) |
Treatment: On the Effective Date, all Intercompany Claims shall be, at the option of Reorganized Frontier, either (a) Reinstated or (b) cancelled without any distribution on account of such
interests.2
|
|
(c) |
Voting: Holders of Intercompany Claims are either Unimpaired, and such Holders of Intercompany Claims are conclusively presumed to have accepted the Plan under section 1126(f) of the Bankruptcy
Code, or Impaired, and such Holders of Intercompany Claims are conclusively presumed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, such Holders are not entitled to vote to accept or reject the
Plan.
|
|
(a) |
Classification: Class 14 consists of all Intercompany Interests.
|
|
(b) |
Treatment: On the Effective Date, all Intercompany Interests shall be, at the option of Reorganized Frontier, either (a) Reinstated in accordance with Article III.G of the Plan or (b) cancelled
without any distribution on account of such Intercompany Interests.
|
|
(c) |
Voting: Holders of Intercompany Interests are either Unimpaired, and such Holders of Intercompany Interests are conclusively presumed to have accepted the Plan under section 1126(f) of the
Bankruptcy Code, or Impaired, and such Holders of Intercompany Interests are conclusively presumed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code. Therefore, such Holders are not entitled to vote to accept
or reject the Plan.
|
2
|
On July 15, 2020, the Debtors provided notice that the Intercompany Claims owed to Frontier Southwest, Frontier Florida, Frontier California, Frontier North and Frontier West Virginia will be Reinstated [Docket No. 729].
|
|
(a) |
Classification: Class 15 consists of all Interests in Frontier.
|
|
(b) |
Treatment: On the Effective Date, all Interests in Frontier will be cancelled, released, and extinguished, and will be of no further force or effect.
|
|
(c) |
Voting: Class 15 is Impaired under the Plan. Holders of Interests in Frontier are conclusively presumed to have rejected the Plan pursuant to section 1126(g) of the Bankruptcy Code.
Therefore, Holders of Interest in Frontier are not entitled to vote to accept or reject the Plan.
|
D.
|
Special Provision Governing Unimpaired Claims
|
E.
|
Elimination of Vacant Classes; Presumed Acceptance by Non‑Voting Classes
|
F.
|
Subordinated Claims
|
G.
|
Intercompany Interests
|
H.
|
Controversy Concerning Impairment
|
I.
|
Confirmation Pursuant to Sections 1129(a)(10) and 1129(b) of the Bankruptcy Code
|
A.
|
Plan Settlement Provisions
|
|
• |
Plan Support. Each member of the First Lien Committee and Second Lien
Committee shall be deemed to vote to accept the Plan, and shall take all reasonable efforts to (a) register votes in favor of the Plan with the Claims, Noticing, and Solicitation Agent in advance of the Confirmation Hearing and (b)
affirmatively support the Plan, including (i) taking all actions reasonably requested by the Debtors and (ii) directing the Agents, the First Lien Notes Trustee, and the Second Lien Notes Trustee, as applicable, to cease discovery and any
efforts to object to, delay, impede, or otherwise interfere with Confirmation or, provided that there is no breach of this Secured Creditor Settlement, Consummation of the Plan. The First Lien Objection and Second Lien Objections shall
be deemed withdrawn.
|
|
• |
Waiver of Default Objections. Upon the Debtors’ disbursement of the Initial Settlement Payments, Holders of Term Loan Claims, First Lien Notes Claims, and Second Lien Notes
Claims, and the First Lien Committee and Second Lien Committee, shall be deemed to have consented to and shall not allege any defaults arising from the transactions set forth in the Plan, the Restructuring Term Sheet, or the
implementation of the Restructuring Transactions as described in the Restructuring Transactions Memorandum, including the structuring of certain of such transactions as an asset acquisition, and Holders of Revolving Credit Claims, Term
Loan Claims, First Lien Notes Claims, and Second Lien Notes Claims shall be deemed to have waived and forgone any such objections upon the Debtors’ disbursement of the Initial Settlement Payments; provided, however, that such Holders shall not consent to,
nor waive any default arising from, any transactions or events arising after the Confirmation Date, if such transaction or event was not expressly contemplated by the Plan, the Restructuring Transactions as described in the
Restructuring Transactions Memorandum, or asserted in the First Lien Objection or the Second Lien Objection and is materially adverse to such Holders.
|
|
• |
Consent to Reinstatement. Upon the Debtors’ disbursement of the Initial Settlement Payments, the First Lien Committee, the Second Lien Notes Trustee, and the Second Lien
Committee shall be deemed to have consented to Reinstatement of the Term Loan Facility, the First Lien Notes, and/or the Second Lien Notes, notwithstanding the impaired status of each Claim under the Plan, and Holders of Term Loan Claims,
First Lien Notes Claims, and Second Lien Notes Claims, and their controlled affiliates, successors, and assigns, shall be deemed to consent to Reinstatement upon the Debtors’ disbursement of the Initial Settlement Payments, in each case
solely on the basis of the transactions expressly contemplated under the Plan (including, for the avoidance of doubt, implementation of the Restructuring Transactions as described in the Restructuring
Transactions Memorandum), notwithstanding the following:
|
|
• |
any provisions in the First Lien Documents or Second Lien Indenture implicated by the transactions expressly contemplated under the Plan, including for the avoidance of doubt, any change in control provisions, compliance with the negative covenants, prohibitions on assignments, successors, or dispositions, any failure to apply the proceeds of any disposition in accordance with the First
Lien Documents or Second Lien Indenture, and any failure to use the proceeds of the PNW Sale to make a mandatory prepayment or reinvestment in accordance with the First
Lien Documents or Second Lien Indenture, including the use of such proceeds to pay Claims that are not Secured in accordance with the Plan;
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|
• |
any non-Pro Rata payment of the Revolving Credit Facility or First Lien Notes pursuant to the Plan or the DIP Order; and
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|
• |
the Debtors’ entry into the DIP-to-Exit Facility and/or DIP-to-Exit Revolving Facility that does not contravene the terms of the Secured Creditor Settlement, notwithstanding any failure of such DIP-to-Exit Facility and/or DIP-to-Exit
Revolving Facility to constitute permitted debt under the First Lien Documents or Second Lien Indenture, including the use of proceeds thereof, and it being understood and agreed that notwithstanding any provision in the First Lien
Documents or Second Lien Indenture to the contrary, such facilities shall be deemed to be “Refinancing Indebtedness” as defined in the Credit Agreement.
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• |
Consent to DIP-to-Exit Financings. Upon the Debtors’ disbursement of the
Initial Settlement Payments, Holders of Term Loan Claims, First Lien Notes Claims, and Second Lien Notes Claims, and the First Lien Committee and Second Lien Committee, shall be deemed to consent to, and shall not object to, delay,
impede, or take any other action to interfere with, the Debtors’ pursuit of or entry into the DIP-to-Exit Facility and/or DIP-to-Exit Revolving Facility, and the granting of liens in connection with the DIP Facilities that prime, until
the Effective Date, the prepetition liens securing the Term Loan Facility, First Lien Notes, and Second Lien Notes; provided, that, (a) the proceeds of any DIP-to-Exit Facility shall be used to
pay (i) the Term Loan Claims or First Lien Notes Claims in full, or in part, in Cash and (ii) only if the Term Loan Claims and First Lien Notes Claims have been first paid in full in Cash, then the Second Lien Notes Claims (b) upon the
Debtors’ entry into any DIP-to-Exit Facility or DIP-to-Exit Revolving Facility, the Bankruptcy Court shall also enter a Final Adequate Protection Order that does not contravene the terms of this Secured Creditor Settlement, and (c) upon
the Effective Date, any DIP-to-Exit Facility and/or DIP‑to‑Exit Revolving Facility, shall share the same collateral and guarantee package as the Reinstated Term Loan Claims, and if applicable, the Reinstated First Lien Notes Claims, and
such DIP‑to‑Exit Facility and/or DIP-to-Exit Revolving Facility shall be pari passu with the Reinstated Term Loan Claims and/or, if applicable, Reinstated
First Lien Notes Claims, and shall otherwise be consistent with the First Lien Documents in all respects except as otherwise set forth under the Secured Creditor Settlement. The First Lien Committee
and Second Lien Committee shall provide conforming instructions to the First Lien Notes Trustee and the Second Lien Notes Trustee, as applicable.
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• |
Make-Whole Claim and Default Interest Waiver. Upon the Debtors’ disbursement of the Initial Settlement Payments, the Holders of Term Loan Claims, First Lien Notes Claims, and
Second Lien Notes Claims, and the First Lien Committee and Second Lien Committee, shall waive and forgo any and all Make-Whole Claims and Claims to default interest under the Credit Agreement, the First Lien Notes Indenture, and/or the
Second Lien Notes Indenture, as applicable, other than to the extent such entitlements are compromised and reflected in the First Lien Settlement Payments; provided, that, any waiver of
entitlement to default interest or a Make-Whole Claim is limited solely to amounts that may become due and payable on or before the Effective Date.
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• |
Intercreditor Matters. Upon the Debtors’ disbursement of the Initial Settlement Payments, the Holders of Revolving Credit Claims, Term Loan Claims, First Lien Notes Claims
(including the First Lien Committee), the Agents, and the First Lien Notes Trustee shall be deemed to have waived the enforcement of any turnover or payment over rights under the Intercreditor Agreement against the Debtors, the Second
Lien Notes Trustee, and the Holders of Second Lien Notes solely with respect to any pre-Effective Date obligations and amounts compromised as part of the Secured Creditor Settlement (such pre-Effective Date obligations and amounts, the “Waived
Turnover Amounts”). For the avoidance of doubt, the Holders of Revolving Credit Claims, Term Loan Claims, First Lien Notes Claims (including the First Lien Committee), the Agents, and the First Lien Notes Trustee shall not assert
any claim to recover the Waived Turnover Amounts from the Second Lien Notes Trustee or the Holders of Second Lien Notes at any time after the Debtors’ disbursement of the Initial Settlement Payments. In the event that the First Lien
Committee, Second Lien Committee, or Second Lien Notes Trustee commences litigation with respect to any Waived Turnover Amounts, the Bankruptcy Court shall have the right to determine which parties are responsible for related legal fees;
provided that the Debtors shall in no event be responsible for the legal fees of the First Lien Committee or Second Lien Committee with respect to such litigation commenced by either the First
Lien Committee or Second Lien Committee. Upon the Effective Date, the Intercreditor Agreement and all rights and remedies thereunder shall otherwise remain in full force and effect.
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• |
Consent to Settlement. Holders of Term Loan Claims, First Lien Notes Claims, and Second Lien Notes Claims shall be deemed to consent to the Secured Creditor Settlement upon
the Debtors’ disbursement of the Initial Settlement Payments.
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• |
Modification of Documents. Upon the Debtors’ disbursement of the Initial Settlement Payments, Holders of Term
Loan Claims, First Lien Notes Claims, and Second Lien Notes Claims, and the First Lien Committee and Second Lien Committee, shall be deemed to have consented to, and agree to take, such actions as are reasonably necessary to amend,
supplement, or otherwise modify the Credit Agreement and/or any documentation related to the forgoing and/or enter into any additional documentation reasonably necessary to implement the Secured Creditor Settlement, the DIP-to-Exit
Facility, and/or the DIP-to-Exit Revolving Facility in accordance with the terms thereof (including, without limitation, providing for separate voting rights of the lenders under the DIP‑to-Exit Revolving Facility and the term lenders
under the reinstated Term Loan Facility and instructing the relevant agents or trustees to execute and deliver relevant intercreditor agreements) (each, a “Modification”). Each Modification shall be consistent with the Secured
Creditor Settlement. The Debtors or the Reorganized Debtors, as applicable, shall consult with the First Lien Committee as soon as reasonably practicable in advance of making any Modification.
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• |
First Lien Settlement Payments. The Debtors shall make the Initial Term
Loan Settlement Payment, the First Lien Notes Settlement Payment, and the Incremental Term Loan Settlement Payment, if any, as applicable, in accordance with Article III.C.5(c) and Article III.C.6(c).
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• |
Professional Fees. On and after the Confirmation Date, the Debtors or
the Reorganized Debtors, as applicable, shall pay in full in Cash all First Lien Committee Fees and Second Lien Committee Fees that are due and owing under the applicable engagement letters, in accordance with the procedures set forth in
paragraph 9 of the Interim Adequate Protection Order or, if applicable, the analogous paragraph of the Final Adequate Protection Order.
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• |
Financing Participation. The Debtors shall promptly engage the
DIP-to-Exit Financing Parties to arrange the DIP-to-Exit Facility and/or DIP-to-Exit Revolving Facility and, with respect to the DIP-to-Exit Facility, use commercially reasonable efforts to facilitate participation of the members of the
First Lien Committee in such financing.
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B. |
Restructuring Transactions
|
C. |
Sources of Consideration for Plan Distributions
|
D. |
Takeback Debt
|
|
i. |
an interest rate that is either (a) no more than 2.50% higher than the interest rate of the next most junior secured debt facility to be entered into by the Reorganized Debtors on the Effective Date if the Takeback Debt is secured
on a third lien basis or (b) no more than 3.50% higher than the interest rate of the most junior secured debt facility to be entered into on the Effective Date if the Takeback Debt is unsecured;
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ii. |
a maturity of no less than one year outside of the longest-dated debt facility to be entered into by the Reorganized Debtors on the Effective Date; provided, however, that in no event shall the maturity of the Takeback Debt be longer than eight years from the Effective Date; and
|
E. |
DIP-to-Exit Facility and DIP-to-Exit Revolving Facility
|
F. |
Issuance and Distribution of the New Common Stock
|
G. |
Corporate Existence
|
H. |
New Organizational Documents
|
I. |
Directors and Officers of the Reorganized Debtors
|
|
1. |
The New Board
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J. |
FCC Applications and PUC Applications
|
K. |
Corporate Action
|
L. |
Vesting of Assets in the Reorganized Debtors
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M.
|
Cancellation of Notes, Instruments, Certificates, and Other Documents
|
N. |
Effectuation and Effect of Reinstatement
|
O.
|
Effectuating Documents; Further Transactions
|
P. |
Section 1145 Exemption
|
Q. |
Section 1146(a) Exemption
|
R. |
Management Incentive Plan
|
S. |
Employee Matters
|
T. |
Qualified Defined Benefit Plan
|
3 |
For the avoidance of doubt, these titles and roles are held by the same employee.
|
4 |
For the avoidance of doubt, multiple Restructuring Success Fees will not be awarded in the event that the Debtors are required to confirm multiple chapter 11 plans of reorganization.
|
U. |
Workers’ Compensation Programs
|
V. |
Preservation of Rights of Action
|
W. |
Release of Preference Actions
|
X. |
Consenting Noteholder Fees
|
Y. |
Payment of Trustee Fees
|
Z. |
Payment of Board Observer Fees
|
A. |
Assumption and Rejection of Executory Contracts and Unexpired Leases
|
B. |
Preexisting Obligations to the Debtors Under Executory Contracts and Unexpired Leases
|
C. |
Claims Based on Rejection of Executory Contracts or Unexpired Leases
|
D.
|
Cure of Defaults for Executory Contracts and Unexpired Leases Assumed
|
E. |
Indemnification Provisions
|
F. |
Restructuring Support Agreement
|
G. |
Insurance Policies and Surety Bonds
|
H. |
Reservation of Rights
|
I. |
Nonoccurrence of Effective Date
|
J. |
Contracts and Leases Entered into After the Petition Date
|
A. |
Timing and Calculation of Amounts to Be Distributed
|
B. |
Rights and Powers of Distribution Agent
|
|
1. |
Powers of the Distribution Agent
|
|
2. |
Expenses Incurred on or after the Effective Date
|
C. |
|
1. |
Distributions Generally
|
|
2. |
Distributions on Account of Obligations of Multiple Debtors
|
|
3. |
Record Date of Distributions
|
|
4. |
Special Rules for Distributions to Holders of Disputed Claims
|
|
5. |
De Minimis Distributions; Minimum Distributions
|
|
6. |
Undeliverable Distributions and Unclaimed Property
|
|
7. |
Manner of Payment Pursuant to the Plan
|
D. |
Compliance Matters
|
E. |
Foreign Currency Exchange Rate
|
F. |
Claims Paid or Payable by Third Parties
|
|
1. |
Claims Paid by Third Parties
|
|
2. |
Claims Payable by Third Parties
|
|
3. |
Applicability of Insurance Policies
|
G. |
Setoffs and Recoupment
|
H. |
Allocation between Principal and Accrued Interest
|
A. |
Disputed Claims Process
|
B. |
Objections to Claims
|
C. |
Estimation of Claims
|
D. |
No Distributions Pending Allowance
|
E. |
Distributions After Allowance
|
F. |
No Interest
|
G. |
Adjustment to Claims and Interests without Objection
|
H. |
Disallowance of Claims
|
I. |
Amendments to Proofs of Claim
|
A. |
Discharge of Claims and Termination of Interests
|
B. |
Releases by the Debtors
|
C. |
Releases by Holders of Claims and Interests
|
D. |
Exculpation
|
E. |
Injunction
|
F. |
Release of Liens
|
G. |
SEC
|
H. |
No Release of Any Claims Held by the United States and the Navajo Nation
|
I. |
Protection against Discriminatory Treatment
|
J. |
Document Retention
|
K. |
Reimbursement or Contribution
|
L. |
Term of Injunctions or Stays
|
A. |
Conditions Precedent to the Effective Date.
|
|
1. |
The Bankruptcy Court shall have entered the Confirmation Order, and such order shall be a Final Order and in full force and effect.
|
|
2. |
Reorganized Frontier’s New Common Stock shall have been issued.
|
|
4. |
As applicable, the Takeback Debt Documents shall have been executed and delivered by all of the Entities that are parties thereto, and all conditions precedent (other than any conditions related to the occurrence of the Effective
Date) to the consummation of the Takeback Debt shall have been waived or satisfied in accordance with the terms thereof, and the closing of the Takeback Debt shall be deemed to occur concurrently with the occurrence of the Effective
Date.
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|
5. |
In the event the Debtors elect to Reinstate any Reinstated Notes, the Debtors shall, at a reasonable time prior to the Effective Date, and following consultation with the First Lien Committee and Second Lien Notes Trustee, notify
the applicable Trustees of any Reinstatement of such Reinstated Notes and documents, if any, necessary or appropriate for such Reinstatement of such Reinstated Notes shall have been executed and delivered by all of the Entities that
are parties thereto, and all conditions precedent (other than any conditions related to the occurrence of the Effective Date) to the consummation of the Reinstatement of such Reinstated Notes shall have been satisfied in accordance
with the terms thereof, and such Reinstated Notes shall be deemed to be Reinstated upon the Effective Date.
|
|
6. |
The Plan Supplement, including any amendments, modifications, or supplements to the documents, schedules, or exhibits included therein shall have been Filed with the Bankruptcy Court pursuant to the terms of the Plan.
|
|
7. |
Any and all requisite FCC Approvals, PUC Approvals, and any other authorizations, consents, regulatory approvals, rulings, or documents required to implement and effectuate the Plan shall have been obtained, without any conditions
required to implement and effectuate the Plan that are materially adverse to the Debtors and that have not previously been approved by the Required Consenting Noteholders in accordance with Article IV.J, and shall be in full force and
effect.
|
|
8. |
The Professional Fee Escrow Account shall have been established and funded with Cash in accordance with Article II.B.2 of the Plan.
|
|
9. |
The Reorganized Debtors shall have paid, to the extent unpaid and invoiced at least five Business Days prior to the Effective Date, all Consenting Noteholder Fees and Trustee Fees.
|
|
10. |
The Debtors shall have used commercially reasonable best efforts to analyze and develop a detailed report regarding a virtual separation under the same ownership structure of select state operations where the Reorganized Debtors
will conduct fiber deployments from those states’ operations where the Reorganized Debtors will perform broadband upgrades and operational improvements.
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|
12. |
The Secured Creditor Settlement shall remain in full force and effect, all terms and conditions shall have been satisfied thereunder, including the payment of the First Lien Settlement Payments in accordance with the terms of the
Plan, and there shall be no breach of the Secured Creditor Settlement.
|
|
13. |
The Final Adequate Protection Order shall remain in full force and effect and there shall not be any outstanding defaults thereunder, after giving effect to any applicable cure period.
|
|
14. |
By the Confirmation Date, the Required Consenting Noteholders shall have determined in their reasonable judgment, with the assistance of their financial and legal advisors, that the aggregate amount of Parent Litigation Claims is
reasonably expected to be equal to or less than existing insurance coverage plus $25 million; provided that, for the avoidance of doubt, deductibles and other expenses owed under the
applicable insurance policies shall not count towards the $25 million. For the avoidance of doubt, this condition precedent shall be considered satisfied absent a contrary assertion by the Required Consenting Noteholders on or before
the Confirmation Date.
|
B. |
Waiver of Conditions Precedent
|
C. |
Effect of Non-Occurrence of Conditions to Consummation
|
A. |
Modification of Plan
|
B. |
Effect of Confirmation on Modifications
|
C. |
Revocation or Withdrawal of Plan
|
A.
|
Immediate Binding Effect
|
B.
|
Additional Documents
|
C.
|
Payment of Statutory Fees
|
D.
|
Dissolution of Statutory Committees
|
E.
|
Reservation of Rights
|
F. |
Successors and Assigns
|
G. |
Service of Documents
|
Frontier Communications Corporation
50 Main Street, Suite 1000
White Plains, New York 10606
Attention: Mark Nielsen,
Executive Vice President, Chief Legal Officer,
E-mail address: mark.nielsen@ftr.com
with copies for information only (which shall not constitute notice) to:
|
|||
Counsel to the Debtors
|
Kirkland & Ellis LLP
Kirkland & Ellis International LLP
601 Lexington Avenue
New York, New York 10022
|
||
Attention: | Stephen E. Hessler, P.C. and Patrick Venter | ||
Kirkland & Ellis LLP
Kirkland & Ellis International LLP
300 North LaSalle Street
Chicago, Illinois 60654
|
|||
Attention: | Chad J. Husnick, P.C. and Benjamin M. Rhode | ||
Noteholder Groups
|
Akin Gump Strauss Hauer & Feld LLP
One Bryant Park
New York, New York 10036
|
||
Attention:
|
Ira S. Dizengoff, Philip C. Dublin, and Naomi Moss
|
||
-and-
Milbank LLP
55 Hudson Yards,
New York, New York 10001
|
|||
Attention:
|
Dennis F. Dunne, Samuel A. Khalil, and Michael W. Price
|
H. |
Entire Agreement; Controlling Document
|
I. |
Plan Supplement
|
J. |
Non-Severability
|
K. |
Votes Solicited in Good Faith
|
L. |
Closing of Chapter 11 Cases
|
M. |
Waiver or Estoppel
|
N. |
FCC Rights and Powers
|
Dated: August 21, 2020
|
FRONTIER COMMUNICATIONS CORPORATION
|
on behalf of itself and all other Debtors | |
|
|
/s/ Mark Nielsen
|
|
Mark Nielsen,
Executive Vice President, Chief Legal Officer,
Frontier Communications Corporation
|
)
|
|||
In re:
|
)
|
Chapter 11
|
|
)
|
|||
FRONTIER COMMUNICATIONS
|
)
|
Case No. 20-22476 (RDD)
|
|
CORPORATION, et al.,1
|
)
|
||
)
|
(Jointly Administered)
|
||
Debtors.
|
)
|
||
)
|
NOTICE OF (I) ENTRY OF CONFIRMATION
ORDER AND (II) OCCURRENCE OF EFFECTIVE DATE
|
1 |
The last four digits of Debtor Frontier Communications Corporation’s tax identification number are 9596. Due to the large number of debtor entities in these chapter 11 cases, which are jointly
administered, a complete list of the debtor entities and the last four digits of their federal tax identification numbers are not provided herein. A complete list of such information may be obtained on the website of the Debtors’ claims
and noticing agent at https://cases.primeclerk.com/ftr. The location of the Debtors’ service address for purposes of these chapter 11 cases is: 50 Main Street, Suite 1000, White Plains, New York 10606.
|
2 |
Capitalized terms used but not otherwise defined herein shall have the meanings given to them in the Plan.
|
Investors:
Sheldon Bruha
Executive Vice President
and Chief Financial
Officer
SB7874@ftr.com
|
|
Media:
Javier Mendoza
562-305-2345
Vice President,
Corporate
Communications and
External Affairs
javier.mendoza@ftr.com
|
Meaghan Repko
/ Jed Repko
Joele Frank
Wilkinson
Brimmer Katcher
212-355-4449
|
|