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: ShowmeblawgsBy stan_sipple
Movida Communications Inc. has filed for Chapter 11 bankruptcy protection, listing debts of $10 million to $100 million and assets of $10 million to $50 million.
Overland Park-based Sprint Nextel Corp. (NYSE: S) is listed as Kansas City-based Movida's top creditor, at $15.9 million. Movida owes its top 20 creditors $22.8 million.
Sprint Corp., Sprint Nextel's predecessor, partnered with a Venezuelan media conglomerate in February 2005 to back Movida, a startup wireless company targeting the Hispanic market in the United States. Movida was started by a handful of former Sprint executives and used Sprint's nationwide wireless network.
Movida made the bankruptcy filing with the U.S. Bankruptcy Court for the District of Delaware on Monday.
The company's attorney couldn't immediately be reached for comment Wednesday.
Full post as published by Showmeblawgs on April 13, 2008 (boomark / email).










