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Comdial Corporation Announces Its Intention to Reorganize Under the U.S. Bankruptcy Code and That an Investor Group Led by Michael Falk Intends to Acquire the Business; Also Announces a New Credit Facility.

Publication: PR Newswire
Publication Date: 26-MAY-05
Format: Online - approximately 655 words
Delivery: Immediate Online Access

Article Excerpt
SARASOTA, Fla., May 26 /PRNewswire-FirstCall/ -- Comdial Corporation (BULLETIN BOARD: CMDZE) ("Comdial") is a converged voice and data communications solutions provider providing comprehensive Internet Protocol (IP) communications solutions, converged and traditional telephony solutions designed exclusively for small and midsize enterprises.

Comdial and certain of its affiliates today filed voluntary petitions under chapter 11 of the U.S. Bankruptcy Code. In addition, Comdial has entered into an agreement to sell substantially all of its assets under section 363 of the Bankruptcy Code to an investor group led by Michael Falk, managing partner of ComVest Investment Partners, a secured debt...

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