YOU ARE AT:Archived ArticlesREORGANIZATION PLANS SET FOR SATELLITE PAGING FIRM

REORGANIZATION PLANS SET FOR SATELLITE PAGING FIRM

FAIRFIELD, N.J.-Satellite Paging and its sister company Message Network announced their reorganization plan has been confirmed in federal court. The companies filed for reorganization under Chapter 11 bankruptcy in December 1993.

“The companies restructured debt will be about 40 percent of pre-organization levels,” said Chief Financial Officer Kevan Bloomgren.

The companies provide paging and messaging services to more than 100,000 subscribers in New York, New Jersey, Connecticut, Pennsylvania and Florida.

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