Great Lakes Comnet, Inc., an owner and operator of a 6,500 mile fiber network serving Michigan and neighboring states, and Comlink, L.L.C., a provider of dedicated ultra-high-speed bandwidth data transmission, filed for bankruptcy on January 25, 2016 in the United States Bankruptcy Court for the Western District of Michigan. Debtors' secured lender, CoBank, ACB, is owed more than $25 million. Debtors state that the prime cause of their bankruptcy filings is an on-going payment dispute with AT&T Services, Inc. and AT&T Corp. Debtors' first-day filings suggest a motion to sell assets will be filed quickly, with a stalking horse price estimated at approximately $32.6 million. The cases are In re Great Lakes Comnet, Inc., Case No. 16-00290 and In re Comlink, L.L.C., Case No. 16-00292.
Wolfson Bolton KochisBy