Open Range Communications

Open Range Communications is a telecommunication company providing wireless broadband solutions. The company develops and markets WiMAX (Worldwide Interoperability for Microwave Access) network products. It also offers wireless voice and data transmission solutions. The company was incorporated in 2004.[1] Headquartered in Greenwood Village, Colorado, the Company announced on January 9, 2009 an investment of $100 million from One Equity Partners (OEP), the private equity arm of JPMorgan Chase & Co. In March, 2008, the United States Department of Agriculture's Rural Development Utilities Program (RDUP) approved a $267 million Broadband Access Loan for Open Range, with the prerequisite that private financing also be secured. The OEP investment satisfied the RDUP's loan terms, making the funds available to Open Range.[2]

Open Range Communications voluntarily filed for chapter 11 bankruptcy protection on October 6, 2011 in the United States Bankruptcy Court for the District of Delaware. In court filings, the company stated that it intended to use the bankruptcy process to "effectuate either (i) a section 363 sale of substantially all of its assets as a going concern or sales for select assets or (ii) a wind-down of its business operations through a liquidation in chapter 11." [3]

References

  1. ^ [1] Business Week
  2. ^ [2] Open Range About Page
  3. ^ [3] Open Range Communications Inc. of Greenwood Village, Colo. Files For Chapter 11 Bankruptcy Protection (http://blog.ch11cases.com/2011/10/open-range-communications-inc-of.html)

External links


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