9. Description (Summarize the nature of the application.)
Otelco Inc. and its direct and indirect wholly-owned subsidiaries, together the Joint Applicants, pursuant to Section 214 of the Communications Act of 1934 and Section 63.24 of the rules of the Federal Communications Commission, hereby inform the Commission that on May 6, 2013 the U.S. Bankruptcy Court for the District of Delaware held a hearing on the Joint Prepackaged Plan of Reorganization of Otelco Inc. and Its Affiliated Debtors, filed February 1, 2013, as amended and supplemented, the Plan. The Plan was approved as set forth in Appendix A of the attachment. Upon receipt of the required regulatory approvals, the Joint Applicants emerged from bankruptcy protection per the Plan on May 24, 2013. As a result, the international Section 214 authorizations held by the Joint Applicants as debtors-in-possession are now under control of each entity without the debtor-in-possession classification. Here, the international Section 214 authorization held by Granby Telephone LLC, Debtor-in-Possession has been assigned to Granby Telephone LLC. As explained in the attachment, the emergence from bankruptcy was pro forma and, together with all previous pro forma transactions, did not result in a change in the actual controlling party. |