Trillion Partners, Inc. Moves Forward Using Receivership

DENVER--(BUSINESS WIRE)-- A federal district court judge has appointed a receiver for Trillion Partners, Inc. (“Trillion”), a fixed wireless and fiber wide area networks provider to school districts across the United States. The appointment of the Receiver will enable the company to restructure its balance sheet and attract new financing to continue to service its existing customers and to expand its operations to new customers.

Based in Austin, Texas, privately held Trillion services school districts through a network serving approximately 1,000 schools and 500,000 students coast to coast in the United States.

“Trillion is known for delivering the very best managed telecommunications services to school districts in the industry. We pride ourselves in the exceptional successes our customers have achieved through their partnership with us. These proceedings will not affect the great services our customers currently receive,” said Bear Poth, Trillion’s CEO. “Indeed, the appointment of a Receiver in this situation is a positive event that will enable the Company to upgrade existing customer networks and to attract new investment in the company for future expansion.”

Trillion continues to enjoy a long standing and successful relationship with its primary lender, Tatonka Capital Corporation of Denver. With Trillion’s cooperation, Tatonka asked a receiver be appointed in order to facilitate the restructuring of debt facilities that are in default. According to court filings, Trillion is successfully operating its networks, paying for operating expenses and managing its customer service contracts.

Byron Smyl, a Managing Director with Alvarez & Marsal North America, LLC (“A&M”) was appointed as the receiver. A&M is a global professional services firm specializing in turnaround management, performance improvement and business advisory services.

CONTACT:

For Trillion Partners, Inc.
John Cardinal Parks, 303-293-8800
Receiver's Legal Counsel
JParks@mdmc-lawco.com

KEYWORDS:   United States  North America  Colorado  Texas

INDUSTRY KEYWORDS:   Education  Primary/Secondary  Technology  Networks  Telecommunications  Other Technology  Professional Services  Legal

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