FairPoint Communications 2009 Annual Report Download - page 6

Table of Contents
forward-looking statements. Because these forward-looking statements involve known and unknown risks and uncertainties, there are important factors
that could cause actual results, events or developments to differ materially from those expressed or implied by these forward-looking statements,
including our plans, objectives, expectations and intentions and other factors discussed under "Item 1A. Risk Factors" and other parts of this Annual
Report. You should not place undue reliance on such forward-looking statements, which are based on the information currently available to us and
speak only as of the date on which this Annual Report was filed with the SEC. We undertake no obligation to publicly update or revise any forward-
looking statements, whether as a result of new information, future events or otherwise. However, your attention is directed to any further disclosures
made on related subjects in our subsequent periodic reports filed with the SEC on Forms 10-K, 10-Q and 8-K and Schedule 14A.
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
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On October 26, 2009 (the "Petition Date"), the Company and substantially all of its direct and indirect subsidiaries filed voluntary petitions for
relief under Chapter 11 of title 11 of the United States Code (the "Bankruptcy Code" or "Chapter 11") in the United States Bankruptcy Court for the
Southern District of New York (the "Bankruptcy Court"). The cases are being jointly administered under the caption 
, Case No. 09-16335 (the "Chapter 11 Cases").
Background to the Filing of the Chapter 11 Cases
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On January 15, 2007, the Company entered into an agreement and plan of merger with Verizon and Spinco pursuant to which the Company
committed to purchase and assume Verizon's landline operations in Maine, New Hampshire and Vermont (the "Merger Agreement"). The transaction
required Verizon to contribute specified assets and liabilities of the local exchange businesses of Verizon New England in Maine, New Hampshire and
Vermont to Spinco and the related long distance and internet service provider businesses in those states to subsidiaries of Spinco. After extensive
federal and state regulatory review and approval, on March 31, 2008, Spinco was merged with and into the Company, with the Company being the
surviving entity in the Merger.
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