TNCI Files BK

Peter : On Rad's Radar?
Peter
| Peter Radizeski of RAD-INFO, Inc. talking telecom, Cloud, VoIP, CLEC, and The Channel.

TNCI Files BK

The reseller that spent so much effort trying to sign agents up for its Equity Plan - cash out when TNCI sells out - went south today by filing for bankruptcy. TNCI owes $10 million dollars to its wholesale carriers - Sprint, CenturyLink, AT&T, VZ and others. Agents are worried about commission payments paid and unpaid.

[That's all I had at the time and not much has been added.]


An update from a Master Agent: "On Sunday, October 9, 2011, TNCI filed for Chapter 11 Bankruptcy Protection. As we understand the situation, TNCI filed for Chapter 11 protection as a means of addressing some outstanding carrier issues. We've spoken to TNCI management and are encouraged that they will be able to work through the reorganization process quickly. In addition, we've been assured TNCI will continue to operate without interruption to customers and agents, and that all financial commitments to the channel will be met. A workgroup of Agent Alliance shareholders, including legal counsel, is in place and will be closely following the situation to ensure that the interests of our collective subagents and customers are protected."

That's great except you filed for bankruptcy owing unforgiving carriers $10 million. They can liquidate you. (They have done it before.)

The Boston Biz Journal broke the story.



Related Articles to 'TNCI Files BK'
2618633606098970923.jpg
angry-penguin2.jpg
centurylink-savvis.jpg
ecosystem-now.jpg

Featured Events