Bankruptcy Court Sets Globix Confirmation Hearing Date For April 8, 2002
NEW YORK – March 7, 2002
NEW YORK – March 7, 2002 – Globix Corporation (NASDAQ: GBIX) announced today that the Bankruptcy Court scheduled a hearing on confirmation of its plan of reorganization for April 8, 2002.
Globix also announced that the United States Bankruptcy Court for the District of Delaware approved ‘first day motions’ that are intended to provide for the continuation of normal business operations. The court orders include several that allow Globix to continue to deal with its employees, customers, and vendors in the normal course of business.
Peter Herzig, Chief Executive Officer, said, “We are very pleased with the results of today’s proceedings. As planned, we will continue to operate in the ordinary course of business during these proceedings. Our clients will continue to receive the same superior level of quality and service they have come to expect from Globix. The filing, and rapid emergence from this proceeding, will allow us to set aside any questions regarding the financial viability of the Company and focus on developing Globix to its fullest potential as a leading provider of complex hosting services.”
Globix is a leading provider of advanced Internet hosting, network and applications solutions for business. Globix delivers services via its secure state-of-the-art Internet DATA Centers, its high-performance global backbone and content delivery network, and its world-class technical professionals. Globix provides businesses with cutting-edge Internet resources and the ability to deploy, manage and scale mission-critical Internet operations for optimum performance and cost efficiency.