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Oct 16 2008

NC Telecom Update

Well, the judge in the NCT bankruptcy case ruled that our reorganization plan and auction should move forward as presented in our motion.  He apparently did not buy the argument that the parent company or current management (moi) allowed our personal stakes in the results to influence our decisions regarding the plan of reorganization.  We have an auction scheduled for November 21, 2008 at which time someone will become the new owner of NCT’s assets.

What does this mean from my perspective?  Well, unless the operating portion of the company is shut down by the winning bidder, I will probably have a position with the new operator.  I guess we’ll find out in November.

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