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Message posted by Mucker on 21 June 2002 at 23:09 - IP Logged
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For the past week I have incurred a major amount of expenses by doing FLM work in the Field for Ebone and KPNQwest NOC.  I was driving to London everyday which in itself is a 150 mile round trip, plus more driving to and from pop sites, parking expenses and mobile phone calls etc etc ...  I was asked to return to work last Monday under the pretence of a two week contract paid for by the Dutch administrators.  I have been informed today that the banks will not be releasing money to the administrators so therefore cannot honour any contracts. I will not get any wages, which I can accept but more to the point no sodding expenses. I am well out of pocket and f**cked off big time.  I have been and still am more than happy to support the cause - but am not happy about being deceived by the banks.

I appreciate that I am not the only one in this situation but I felt it needed saying.

The banks need sorting

Kurt

Field Service Operations UK - Ex Ex again


Message posted by Speed on 22 June 2002 at 06:31 - IP Logged
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I know Kurt, we in Hoeilaert have been lucky that we forced the banks to send a signed fax and immediately give money to the Dutch curators, otherwise none of us would have been payed either.

The banks are f**king playing with everyone's feet ! Those w**kers !!!


Message posted by Mucker on 24 June 2002 at 23:07 - IP Logged
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http://zdnet.com.com/2100-11-938742.html

 

Banks demand KPNQwest account inquiry

 

The epic bankruptcy saga of KPNQwest became still more entangled on Monday as banks joined the clamor for an investigation of the service provider's accounts.

KPNQwest's network, which carries a quarter of Europe's Internet traffic, remains live for now, but could close at any moment as a court order on Friday left the trustees with no money to pay staff.

The banking consortium will demand a court inquiry into discrepancies in KPNQwest's accounts, according to the Financial Times. The consortium, which includes Citigroup, ABN AMRO, Fortis, Barclays, Bank of America, Dresdner Kleinwort Wasserstein and Deutsche Bank, loaned KPNQwest $513 million (525 million euros) when it bought a previously failed service provider, GTS.

KPNQwest's purchase of GTS, which included the Ebone European backbone network, was completed in March, only weeks before KPNQwest declared itself bankrupt. The consortium alleges that KPNQwest lied about income from its two founders--KPN of the Netherlands and Qwest Communications International of the United States--to make its services revenue look bigger than it was.

This call joins that of KPNQwest bondholders who have made the same demand of KPN and Qwest. Former KPNQwest Chief Executive Jack McMaster has denied the allegations.

"The network is still operating, and there is still a sale process going on," said a source close to the company. But every aspect of the case is now shrouded in uncertainty after Friday's court ruling.

Around $19.5 million had been promised by KPNQwest customers to keep the network running until the end of June, but the banks that collected that "lifeboat" money refused to hand it over, and the Dutch court on Friday upheld this action.

Now the likelihood is that the bandwidth that Ebone leases from service providers could be turned off within the next few days. According to Graham Kinsey, convenor of the staff at the Ebone network in Belgium, the 40 people in the Belgian network center are the only ones out of around 200 who can expect any payment. "I'm sorry for field engineers in England. They have been paying money out of their own pocket, borrowing money to keep the network on the road."


Message posted by Speed on 24 June 2002 at 23:58 - IP Logged
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Don't know wether suppliers will pull the plug, but one thing that's sure is that Ebone should never have been sold to this KPNQwest sh*thole

Message posted by lrihoux on 25 June 2002 at 00:57 - IP Logged
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Well, as long as the banks and curators refuse to split up KQ and Ebone, buyers will have difficulties in coming and saying "hey, here is the money!"

But why would a buyer invest money in buying two superimposed networks, with two NOCs?

Buyers already showed their interests for Ebone and Ebone only. I really hope banks and curators will open their eyes and see that if there is a possibility to save one network, thus thousands of customers allover Europe and beyond, they must go for it!

We'll see...

Hum, somebody put a Santa Claus hood on the first floor's hall today. Is this some kind of message to say "If you still believe there's a future here, you must also believe Santa Claus exists..." If it was the aim of that, show me who did that and I'll have him eat a full ADM!

By the way, each day I go to work, I take the train at Etterbeek Station, just meters away from the CitiWank office. I was surprised they didn't change their sign yet



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Laurent Rihoux (NOC IP, ex-CSC)

Message posted by Speed on 25 June 2002 at 07:23 - IP Logged
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Actually it are the banks that wanted everything to be sold together as one piece. Luckily they've changed their mind and are now also considering alternatives.

There are bids for Ebone and there are bids for KQ network just aswell as seperate bids for Central Europe so I don't think anyone will keep everything together (would be stupid unless someone suddenly comes in and takes everything at a higher price than the seperate parts)


Message posted by BiGWill on 25 June 2002 at 18:56 - IP Logged
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well KPNQwest Austria was sold to some investors.

haven't seen any english news about it yet, but here are two german ones:

http://www.kpnqwest.at/cms/news-presse/21889.htm?PHPSESSID=579736313825ce351a242f2b42e00459

KPNQwest Austria GmbH wird zur (N)EUnet

Pressekonferenz Global Equity Partners & Volksbank Investmentbank

Wien, 25. Juni 2002: (N)EUnet: 15.000 Kunden haben einen stabilen Internetservice-Provider

Übernahme von KPNQwest Austria GmbH durch
Global Equity Partners Beteiligungs-Management AG und Volksbank Investmentbank AG

Global Equity Partners Beteiligungs-Management AG und Volksbank Investmentbank AG haben heute von Masseverwalter Dr. Christoph Stapf sämtliche Aktivitäten von KPNQwest Austria und KPNQwest Assets GmbH übernommen.

Über den Kaufpreis wurde Stillschweigen vereinbart.

Damit ist die Fortführung der gesamten bisherigen Aktivitäten und Leistungen für die Kunden gesichert. Ein Großteil der Mitarbeiter wird ebenfalls übernommen und soll den Kunden für ein weiterhin verbessertes und individuelles Service zur Verfügung stehen und auch neue Kunden dazu bewegen dem Unternehmen, das wiederum „EUnet“ wie vor der Übernahme durch KPNQwest heißen wird, zu vertrauen.

Unter den 15.000 Kunden (aktueller Österreich-Marktanteil: 17%) befinden sich 62 Firmen der Top-100-Unternehmen und 40% aller Top-500-Unternehmen.


Ziel der Eigentümer ist es mit den vorhanden Mitarbeitern, ergänzt durch den Mitbegründer und Geschäftsführer von EUnet Herrn Herbert Herdlicka und zuzüglich einiger noch bekannt zugebener Verstärkungen im technischen und im Vertriebsbereich den alten "EUnet-Spirit" für Kunden und Mitarbeiter aufleben zu lassen und die Leistungen des Unternehmens zu garantieren.

Die Investoren Global Equity Partners Beteiligungs-Management AG (63,29%) und Volksbank Investmentbank AG (36,71%) stellen durch ihre Finanzstärke dem Unternehmen ausreichend Liquidität und Kapitalausstattung zur Verfügung um ein reibungsloses Fortführen des Unternehmens zu garantieren. Die Umsätze des Unternehmens sollen mittelfristig ausgebaut werden. Nach den zahlreichen Ankäufen von Telekom- sowie Internetserviceproviderunternehmen und dem Scheitern von vielen dieser Unternehmen, ist es nun das Bestreben der Investoren einen langfristig stabilen Internetserviceprovider aufzubauen.

 

and another one at heise.de:

http://www.heise.de/newsticker/data/anw-25.06.02-002/

 

KPNQwest Austria findet Käufer

Die Konkursverwalter des insolventen Internet-Carriers KPNQwest konnten auf der Suche nach Käufern für Teile des Netzes einen weiteren Teilerfolg verbuchen. Die Global Equity Partners Beteiligungs-Management AG (U color=#800080GEP/U) hat zusammen mit der U color=#0000ffVolksbank Investmentbank AG/U sämtliche Aktivitäten der KPNQwest Austria GmbH übernommen, heißt es in einer Mitteilung. Das neue Unternehmen soll unter der Marke EUnet geführt werden -- die Marke ist ähnlich wie in Deutschland bekannt als Name des ersten kommerziellen Internet-Providers in Österreich. GEP-Geschäftsführer Herbert Herdlicka war bis zur Überführung von EUnet in den KPNQwest-Konzern 1992 Geschäftsführer von EUnet Österreich. Nun kehre KPNQwest Austria, wie es GEP ausdrückt, in "bewährte Hände" zurück.

Unterdessen hoffen KPN und andere beteiligte Unternehmen, drei von acht Netz-Hauptabschnitten des insolventen niederländischen Internet-Carriers bis zum 1. Juli aufrechterhalten zu können, heißt es in einer Mitteilung von KPN. Dazu benötigen sie die Erlaubnis der Insolvenzverwalter. Diese hatten vor drei Tagen ursprünglich die sofortige Einstellung des Netzbetriebes U color=#800080angekündigt/U. Mittlerweile halten aber entlassene Mitarbeiter von KPNQwest das Netz U color=#0000ffaufrecht/U, um die Bedingungen für den Verkauf des Netzes zu verbessern.

Bei KPN -- der niederländische Telecom-Konzern hatte zusammen mit der US-Firma Qwest KPNQwest aufgebaut -- heißt es weiter, eine Woche nach der Insolvenz des Carriers habe KPN 3,5 Millionen Euro bereitgestellt, damit der Netzbetrieb weiter geführt werden könne. Allerdings sei das Unternehmen bei seinen Bemühungen um KPNQwest von den Gläubigerbanken behindert worden. Auf der anderen Seite strebt ein Bankenkonsortium mit Beteiligung der Citigroup und ABN Amro Untersuchungen um die Geschäftsbeziehungen zwischen KPNQwest und den Hauptanteilseignern KPN und Qwest an. Ihnen wird vorgeworfen, die Bilanzen von KPNQwest gegenüber Investoren beschönigt zu haben. Durch die Insolvenz sei ein Unternehmenswert von 42 Millionen Euro vernichtet worden. Jack McMaster, ehemaliger CEO bei KPNQwest, bestreitet, die Bilanzen frisiert zu haben.


Message posted by Mucker on 26 June 2002 at 22:07 - IP Logged
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Its all gone very quiet, are the interested parties still in talks with the banks or should I now declare myself personally bankrupt, or wait untill the end of the week?

   


Message posted by miyabhai on 26 June 2002 at 23:15 - IP Logged
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Well in my case I have to declare myself as I have to pay the taxes for 2001 and 2002 as EBONE is no longer anymore active....and this is a hell lot of money..hope that EBONE comes out of the ashes soon....

 

Imdad



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Message posted by Mucker on 26 June 2002 at 23:44 - IP Logged
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Imdad

I have my fingers crossed, and lets all hope we have some good news by the end of the week, it feels like living on death row at the moment !!!

    

Kurt


Message posted by Mucker on 27 June 2002 at 10:33 - IP Logged
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link on the present situation as of this morning

http://www.theregister.co.uk/content/6/25911.html

 


Message posted by Mucker on 27 June 2002 at 19:49 - IP Logged
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http://www.reuters.com/news_article.jhtml;jsessionid=3ESYMB5KPPWKKCRBAE0CFFAKEEATGIWD?type=businessnews&StoryID=1141283

AT&T Drops Interest in KPNQwest Network

AMSTERDAM (Reuters) - U.S. telecoms giant AT&T is no longer interested in bidding for Europe's largest data network that was owned by bankrupt KPNQwest because of legal and ownership issues, sources close to the talks said on Thursday.

AT&T U color=#0000ffT.N/U and Dutch venture fund Trimoteur were the only two groups that were considering buying the entire data network that spans from Portugal to Finland. There are some 40 parties interested in buying individual parts.

"It's easier to work on a piecemeal basis. You can isolate the asset much better. It's not the best situation for the banks," one of the sources said.

KPNQwest's U color=#0000ffKQIP.AS/U trustees and the banks were hoping to sell the network more or less in one chunk, which could have fetched a better price but were running out of time to settle legal matters and were not willing to issue any guarantees sought by the bidders.

Lets all hope Ebone can be bought soon

 


Message posted by AnVR on 27 June 2002 at 20:13 - IP Logged
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according to the financial newspaper "Financieel-economische tijd" today, the Irish company Oakley Capital is interested in buying the Ebone network, but the banks did not give permission to the administrators to accept the offer yet.  In this article there is also talks about the fact that nothing will be concluded by the end of this month anyway as Dutch administrators have asked the Belgian administrators to keep the network running after July 1st!!!

Let's hope the banks say it will be a go then!

An



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Message posted by gkinsey on 27 June 2002 at 22:49 - IP Logged
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The banks were holding out until the latest possible moment, hoping that AT&T would take the big cherry (KQ in its entirety).

In fact they pulled out, leaving the banks and administrators with too little time to take the 'alternative' offers.

The current situation forces the banks to effectively give Friday as a deadline for the final offers to be submitted with cash on the table. Wish the likes of Oakley not having had all information made available (i.e. concerning liabilities) it makes it difficult for them to have prepared a comprehensive business plan.

We therefore wait to see if they can get the information they need to be able to progress on this.

I am confident that they still want to buy Ebone as I spoke to them late on this afternoon.

 

**STAY TUNED**   ---> i'll update as soon as I have info.



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Graham Kinsey (Ebone IP-NOC)

Message posted by kpnqwest on 27 June 2002 at 23:24 - IP Logged
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When they say KPNQwest, what do they exactly mean: KPNQwest or KPNQwest + Ebone?

Has the separation of KQ and Ebone networks been agreed?

Who is bidding for Ebone? 'cause I see different names now in the posts, but not the one we have heard a few days back.

I was under the impression that the No 1 bidder was confident to win the fight for Ebone network, but I do not hear its name any more. Any info?

Val



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Message posted by Speed on 28 June 2002 at 01:54 - IP Logged
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There are 3 bidders for Ebone : Deutsche Telekom, Oakley Capital and Interoute

The No.1 bidder you're talking about is Oakley Capital which in the beginning was referred to as Intechnology (as that's one of their companies)


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As far as I know the banks are now concentrating on selling the Ebone Network as there are three companies interested, but time is running out fast for anybody to put any serious business plans together.  Work will begin shortly to seperate the two networks KPNQwest & Ebone. 

As for the KPNQwest Network all I know is that the banks have only got one serious bidder and that is KPN.

 


Message posted by BiGWill on 28 June 2002 at 11:43 - IP Logged
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would be nice to see DTAG getting the surcharge for Ebone ... though their shares are on a all-time low.


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I don't think DTAG would be a good choice for Ebone. Oakley seems the best option for us.

About the networks : plans are already in place to do an AS-separation on Sunday night if a buyer would sign the contract


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Oakley should be the best option for the banks as well unless they want to run the risk of getting peanutes rather than some cash...

I suppose, they are only haggling over the cash on the table, trying to get as much as possible, short term.

It's a nonsense screw this offer up... therefore, let's cross the fingers waiting these blessed banks to leave Ebone to carry on with its bright destiny....

 



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