FairPoint Communications 2011 Annual Report Download - page 88
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Table of Contents
Liabilities subject to compromise $2,910,952
Less: Transfer to claims reserve (66,893)
Remaining liabilities subject to compromise 2,844,059
Less: Issuance of debt and equity
New long-term debt (1,000,000)
Successor common stock (at par value) (251)
Successor additional paid-in capital (476,403)
Successor warrants (16,350)
(b) Represents the adjustments of assets and liabilities to fair value or other measurement in conjunction with adoption of fresh start accounting.
(c) Records the Claims Reserve and the Cash Claims Reserve restricted for satisfaction of the reserve. The following reflects the components of the Claims
Reserve (in thousands, unaudited):
Liabilities subject to compromise to be satisfied in cash $66,893
Professional and restructuring fees 24,601
Other 9,894
Less: Professional and restructuring fee payments (7,096)
82