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Re: RCN Chicago Listing
Debtor counsel at Skadden, Arps, Slate, Meagher & Flom LLP have filed a motion to file the dark-fiber agreement under seal to protect RCN's business interests.
RCN Corp. filed for Chapter 11 protection on May 27, but its Chicago subsidiary, RCN Cable TV of Chicago Inc., didn't file until Aug. 5.
The cases were then jointly administered in the U.S. Bankruptcy Court for the Southern District of New York in Manhattan.
When RCN-Chicago filed, it was already embroiled in arguments with the city over its failure to fulfill its contract. The cable provider agreed to install cable systems in four different areas of the city under rotating schedules.
But worsening financial conditions made it clear that keeping to the schedules would be impossible, and the city and RCN amended the agreements. RCN had been able to develop Area 1 and expand into Area 2, but no progress has been made in Areas 3 and 4.
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