https://www.channelfutures.com/wp-content/themes/channelfutures_child/assets/images/logo/footer-new-logo.png
  • Home
  • Technologies
    • Back
    • SDN/SD-WAN
    • Cloud
    • RMM/PSA
    • Security
    • Telephony/UC/Collaboration
    • Cable
    • Mobility & Wireless
    • Fiber/Ethernet
    • Data Centers
    • Backup & Disaster Recovery
    • IoT
    • Desktop
    • Artificial Intelligence
    • Analytics
  • Strategy
    • Back
    • Mergers and Acquisitions
    • Channel Research
    • Business Models
    • Distribution
    • Technology Services Brokerages
    • Sales & Marketing
    • Best Practices
    • Vertical Markets
    • Regulation & Compliance
    • Diversity, Equity & Inclusion
  • MSP 501
    • Back
    • MSP 501 Information Center
    • 2021 MSP 501 Rankings
  • Intelligence
    • Back
    • Galleries
    • Podcasts
    • From the Industry
    • Reports/Digital Issues
    • Webinars
    • White Papers
  • Channel Futures TV
  • EMEA
  • Channel Chatter
    • Back
    • People on the Move
    • New/Changing Channel Programs
    • New Products & Services
    • Industry Honors
  • Resources
    • Back
    • Advisory Boards
    • Industry Organizations
    • Our Sponsors
    • Advertise
    • 2022 Editorial Calendar
  • Awards
    • Back
    • 2021 MSP 501
    • Circle of Excellence
    • DE&I 101
    • Top Gun 51
    • Channel Partners 101 (CP 101)
  • Events
    • Back
    • CP Conference & Expo
    • MSP Summit
    • Channel Partners Europe
    • Channel Partners Event Coverage
    • Webinars
    • Industry Events
  • About Us
  • DE&I
Channel Futures
  • NEWSLETTER
  • Home
  • Technologies
    • Back
    • SDN/SD-WAN
    • Cloud
    • RMM/PSA
    • Security
    • Telephony/UC/Collaboration
    • Cable
    • Mobility & Wireless
    • Fiber/Ethernet
    • Data Centers
    • Backup & Disaster Recovery
    • IoT
    • Desktop
    • Artificial Intelligence
    • Analytics
  • Strategy
    • Back
    • Mergers and Acquisitions
    • Channel Research
    • Business Models
    • Distribution
    • Technology Services Brokerages
    • Sales & Marketing
    • Best Practices
    • Vertical Markets
    • Regulation & Compliance
    • Diversity, Equity & Inclusion
  • MSP 501
    • Back
    • MSP 501 Information Center
    • 2021 MSP 501 Rankings
  • Intelligence
    • Back
    • Galleries
    • Podcasts
    • From the Industry
    • Reports/Digital Issues
    • Webinars
    • White Papers
  • Channel Futures TV
  • EMEA
  • Channel Chatter
    • Back
    • People on the Move
    • New/Changing Channel Programs
    • New Products & Services
    • Industry Honors
  • Resources
    • Back
    • Advisory Boards
    • Industry Organizations
    • Our Sponsors
    • Advertise
    • 2022 Editorial Calendar
  • Awards
    • Back
    • 2021 MSP 501
    • Circle of Excellence
    • DE&I 101
    • Top Gun 51
    • Channel Partners 101 (CP 101)
  • Events
    • Back
    • CP Conference & Expo
    • MSP Summit
    • Channel Partners Europe
    • Channel Partners Event Coverage
    • Webinars
    • Industry Events
  • About Us
  • DE&I
    • Newsletter
  • REGISTER
  • MSPs
  • VARs / SIs
  • Agents
  • Cloud Service Providers
  • Channel Partners Events
 Channel Futures

New/Changing Channel Programs


TNCI Bankruptcy Reorg Hearing Postponed

  • Written by Khali
  • May 15, 2012
Under the new timeline, agents will have to wait until the second week of June for acceptance of their contracts.

The federal bankruptcy court in Massachusetts has granted a motion filed by Trans National Communications International Inc. (TNCI) on Tuesday to extend the date of the confirmation hearing on TNCI’s reorganization plan in order the service provider to continue negotiations with creditors.

The hearing was moved from May 16 to June 6, with the deadline to respond to the amended plan moved to June 1.

TNCI also filed a motion to extend the time in which it has the exclusive right to solicit acceptances of a plan of reorganization. The court will hear the motion on May 16. TNCI’s bank, Citizens Bank of Massachusetts, as well as the creditors committee, including the Agent Alliance, Sprint and Verizon, assented to the motions.

This is the second time the telecom company has sought an extension. On April 25, the court granted a joint motion by TNCI and its Creditors Committee to May 16. TNCI filed an amended plan and disclosure statement on May 11 in response to objections filed prior the hearing. Objections on the amended plan were due by 4 p.m. ET on May 15.

TNCI filed for Chapter 11 bankruptcy protection Oct. 9, 2011, and its reorganization plan on Feb. 6.

TNCI spokesperson Jeanne Duca said the company held an informational call Tuesday with its indirect sales agents. In the call, TNCI told agents the company has met and exchanged information with the creditors committee, Citizens Bank, as well as certain key carriers with respect to agreements for the provision of services post-bankruptcy.

“Carrier discussions are complex and although much progress has been made, additional time is required to complete these discussions,” Duca said.

Duca reiterated that there is no change in TNCI’s direction regarding agent agreements. Toward that end, the amended plan and disclosure statement states the assumption of acceptance of all agent contracts.

“Our plan is to complete carrier outstanding carrier negotiations, formalize terms with RBS Citizens, and then move to accept and cure agent agreements,” Duca said, noting this is likely to occur in the week immediately following the June 6 hearing.

Citizens Bank of Massachusetts is one of TNCI’s largest secured creditors with a claim of roughly $4.3 million. Some of the company’s largest unsecured creditors include AT&T, Sprint and Qwest Communications (now CenturyLink), which is owed nearly $2 million, according to the initial bankruptcy filing. Sprint is owed more than $5 million while AT&T is owed roughly $1.66 million.

In financial statements filed with the court, TNCI projects 2012 total revenues of $73.3 million. Of its projected $60.2 million in total direct costs, TNCI anticipated that agent commissions will account for nearly $8.3 million in costs. The company listed liabilities of $17.9 million and total assets of nearly $14.7 million as of December 2011.

Tags: Agents Business Models New/Changing Channel Programs

Most Recent


  • Business building block growth
    So You Want to Build a Microsoft Practice? Here's What It Will Take
    “It's a labor of love, and it didn't happen overnight," Jim Campbell of Opkalla said.
  • Joint selling
    Tanium Unveils New Technology Partner Program for Joint Solutions
    Access to real-time endpoint data promotes zero-trust security.
  • Eight, 8
    8 Takeaways You Need to Know from AWS’ Public Sector Summit
    Get the scoop from Jeffrey Kratz, who now leads the vendor’s public sector partner program.
  • Enterprise Resource Planning
    Unit4 Driving Shift from Service Delivery to Sales-Driven Partners
    A top partner says it has “backed the horse it wants to win the race” as the ERP vendor seeks to move away from the co-sell model.

Leave a comment Cancel reply

-or-

Log in with your Channel Futures account

Alternatively, post a comment by completing the form below:

Your email address will not be published. Required fields are marked *

Related Content

  • What's new?
    Partner Program Updates: Dell, Spectrum, Vonage, IBM, NetApp, More
  • New
    Martello Technologies Group Targets MSPs, VARs with New Partner Program
  • Unleash
    Trustifi Unleashes First Partner Program
  • Security Vulnerability
    Older Fortinet Vulnerabilities Lead to Attack on Local Government Office

Upcoming Events

View all

Channel Partners Europe

June 14, 2022 - June 15, 2022

MSP Summit

September 13, 2022 - September 16, 2022

Galleries

View all

IBM, F5, Appgate, Axonius, CyberGRX Among ‘Must-See’ Vendors at RSA

May 25, 2022

So You Want to Build a Microsoft Practice? Here’s What It Will Take

May 25, 2022

Cisco Hybrid Cloud Trends Report Indicates Important Uptake

May 25, 2022

Industry Perspectives

View all

Increased Cybersecurity Vulnerability = Increased MSP Opportunities

May 25, 2022

Leverage Your MSP’s People Power

May 24, 2022

How SD-WAN Helps Secure the Expanding Network Perimeter

May 19, 2022

Webinars

View all

Simplifying SaaS Security for MSPs

April 27, 2022

How to Supercharge The Network to Support Your IT Superhero Moves

May 3, 2022

The 2022 MSP Challenge: Scale Service Delivery Despite the Talent Gap

April 21, 2022

White Papers

View all

Work Goes Remote – (and Other Top ITOps Trends)

May 25, 2022

The New Bottom Line: How MSPs Can Meet the Healthcare Crisis While Evolving Their Businesses

April 19, 2022

How to build a Security Operations Center (on a budget)

April 4, 2022

Channel Futures TV

View all

AT&T, Microsoft, Cisco, ThreatLocker on Unlocking Partner Potential

Agents Share ‘Secrets,’ Industry Opportunity

May 11, 2022

Vonage Addresses Potential Partner Opportunity via Acquisition by Ericsson

May 5, 2022

Lumen Technologies ‘Built for Growth and Scale’

May 4, 2022

Twitter

ChannelFutures

Are your #MSP clients struggling to handle their cybersecurity vulnerability? #cybersecurity #cyberthreats… twitter.com/i/web/status/1…

May 25, 2022
ChannelFutures

Introducing the 2022 Channel Futures MSP 501: The best of the best. Register for the reveal webinar here.… twitter.com/i/web/status/1…

May 25, 2022
ChannelFutures

.@Tanium launches new Technology Partner Program. #endpointdata dlvr.it/SR3pvw https://t.co/5DL6gvTAhX

May 25, 2022
ChannelFutures

EMA's picks for must-see vendors at next month's @RSAConference: @AppGateSecurity, @AxoniusInc, @coalfire,… twitter.com/i/web/status/1…

May 25, 2022
ChannelFutures

Jim Campbell of @opkalla shared how the consultancy built a Microsoft gold partner CSP business in 18 months.… twitter.com/i/web/status/1…

May 25, 2022
ChannelFutures

.@Nable's new N-hanced Services empower partners to leverage N-able’s full breadth of experience and expertise, the… twitter.com/i/web/status/1…

May 25, 2022
ChannelFutures

Work Goes Remote – (and Other Top ITOps Trends) dlvr.it/SR3d06

May 25, 2022
ChannelFutures

.@ConnectWise adds two executives to its leadership team: Todd Hale as CIO and Ciaran Chu as GM of ConnectWise Cont… twitter.com/i/web/status/1…

May 25, 2022

MSSP Insider

Business advice for MSSPs and news from the broader security channel.

Newsletters and Updates

Sign up for The Channel Report, Channel Futures Update, MSP 501 Newsletter and more.

Live Channel Events

Get the latest information on the next industry-leading Channel Partners event.

Galleries

Educational slide shows and images from live events.

Media Kit And Advertising

Want to reach our audience? Access our media kit.

DISCOVER MORE FROM INFORMA TECH

  • Channel Partners Events
  • Telecoms.com
  • MSP 501
  • Black Hat
  • IoT World Today
  • Omdia

WORKING WITH US

  • Contact
  • About Us
  • Advertise
  • Newsletter

FOLLOW Channel Futures ON SOCIAL

  • Privacy
  • CCPA: “Do Not Sell My Data”
  • Cookie Policy
  • Terms
Copyright © 2022 Informa PLC. Informa PLC is registered in England and Wales with company number 8860726 whose registered and Head office is 5 Howick Place, London, SW1P 1WG.
This website uses cookies, including third party ones, to allow for analysis of how people use our website in order to improve your experience and our services. By continuing to use our website, you agree to the use of such cookies. Click here for more information on our Cookie Policy and Privacy Policy.
X