Maxcom Telecomunicaciones, S.A.B. de C.V. (NYSE: MXT) said that the US Bankruptcy Court for the District of Delaware has confirmed the company´s prepackaged Chapter 11 plan of reorganization.
Confirmation was fully consensual: the only class of creditors entitled to vote overwhelmingly voted in favor of the plan and no party objected to confirmation.
Confirmation paves the way for Maxcom to launch its comprehensive recapitalization and debt restructuring, consistent with the company´s expectations to emerge from Chapter 11 by early fall.
Maxcom Telecomunicaciones, headquartered in Mexico City, Mexico, is a facilities-based telecommunications provider using a “smart-build” approach to deliver last-mile connectivity to micro, small, and medium-sized businesses and residential customers in the Mexican territory.