Acterna received bankruptcy court approval for its plan of reorganization. The company plans to emerge from Chapter 11 status in the next ten days. The debt restructuring process took approximately 5 months.
Acterna plans to introduce 12 new products and enhancements over the next three months.
http://www.acterna.com
- In August 2003, Acterna filed a plan of reorganization with the U.S. Bankruptcy Court for the Southern District of New York that would reduce its long term debt by $770 million, or 80%, and lower its annual cash interest expense by at least $45 million.