Published July 2002

ATG files for bankruptcy; Integra looks to buy assets

Herald Business Journal Staff

Advanced TelCom Group Inc., which is under Chapter 11 bankruptcy protection, has asked a judge to delay the company’s takeover by an Oregon-based telecommunications firm.

ATG apparently wants the extra time to attract a better offer for its assets, including a switching center in Everett and a roster of Snohomish County customers.

Integra Telecom of Portland announced in early June that it had agreed to purchase the assets of ATG, which had filed for bankruptcy this spring.

After Integra submitted its purchase agreement, however, ATG asked the federal bankruptcy court to extend the review process and allow the company more time.

Integra may lose interest in taking over if the bankruptcy proceedings stall too long, said John Nee, Integra’s Vice President for Marketing.

Integra has countered in court with its own plea to get on with the buyout. If the deal falls through, it’s unclear where that would leave customers who have telephone and Internet service through ATG.

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