Jun, 2002 : KPNQwest Can't Guarantee Network Continuity

📅 - Trustees of the bankrupt Dutch communications network operator KPNQwest NV (kpnqwest.com) said on Friday that they couldn?t guarantee the continuity of its network following a court's rejection of the company's demand that banks release funds paid by customers.

At last report, the company's network was to have remained online until the end of the month, but pieces may now be shut down sooner.
The company is reportedly instructing employees not to appear at work to avoid incurring costs. The company says its network may not be shut down all at once, as the process is complicated.
Trustees for KPNQwest had demanded that banks, including Citicorp, ABN Amro Holding NV and Fortis release funds paid by clients in order that the company be able to keep the network active. The banks demanded certain guarantees over the assets, however.
KPNQwest originally filed for bankruptcy in May after failing to sell assets to raise the cash it needed to continue operations.

Reads: 1373 | Category: General | Source: TheWHIR : Web Host Industry Reviews

Want to add a website news or press release ? Just do it, it's free! Use add web hosting news!

Other news

📅 - Tier 1 Releases Mass Market Hosting Report - Internet Infrastructure software and services industry research and consulting firm Tier 1 Research (tier1research.com) announced on Friday that it has released an in-depth analysis and forecast report for the shared and low-end dedicated Web hosting market, entitled Mass Market Hosting. Co-Authored by Tier 1 Research founder and president Andrew Schroepfer and vice president of research and development Joshua Beil, the 44-page report combines interviews with industry leaders and survey data and makes use of the broader analysis found in Tier 1's Internet Infrastructure Bible v2.0. Divided into three sections, the report separately covers market overview ...
terremark.com📅 - Terremark Announces NAP De Las Americas-Madrid - Carrier-neutral Tier-1 NAP operator Terremark Worldwide, Inc. (Terremark.com 👉 Total Reviews: 3
🙌 Average Rating: 1 / 10
👍 Good Reviews: 0
👎 Bad Reviews: 3
👈 Official Responses: 0
) announced this week that it has formed a new company that will own and operate a carrier-neutral Tier-1 NAP in Madrid, as well as other data centers throughout Spain. According to Terremark, the new company, NAP de las Americas-Madrid S.A., has completed the purchase of 5 million shares of Terremark common stock for $5,000,000. The transaction is part of the agreement between Terremark and the Comunidad Autonoma de Madrid to develop carrier-neutral network access points in Spain. The new company, says Terremark, was created for the purpose of owning and operating a facility in ...
verio.com logo📅 - Verio Awarded Market Engineering Award by Frost & Sullivan - Verio (Verio.com 👉 Total Reviews: 28
🙌 Average Rating: 2.2 / 10
👍 Good Reviews: 4
👎 Bad Reviews: 24
👈 Official Responses: 0
) announced yesterday that it has won the prominent Frost & Sullivan Market Engineering Award for its market share leadership and excellence in serving the small-to-medium-sized enterprise Web hosting market. The consulting firm awarded the honor to Verio for retaining a solid 23.5 per cent market share in the SME category, representing a significant lead over its closest competitor. The Frost & Sullivan award also accounted for excellence in the identification of market challenges, drivers and restraints as well as strategy development and methods of addressing such market dynamics. Frost & Sullivan, in choosing the award recipient, tracked ...
📅 - Speedera Enhances DoubleClick Marketing Services - Content delivery service provider Speedera Networks Inc. (speedera.com) announced on Monday that online marketing tools developer DoubleClick (doubleclick.com) has chosen Speedera's content delivery network to improve the delivery of its Web content and reduce the cost of delivering ads. According to Speedera, the company's global edge network will provide DoubleClick with additional points of presence and improved scalability, helping it scale to handle unpredictable traffic spikes And Speedera says its Origin Site Integration allows DoubleClick to control how it uses its own existing ad serving infrastructure in addition to the Speedera CDN, with ...
📅 - Redline Enhances e-TFI Performance for World Cup - Web acceleration equipment developer Redline Networks (redlinenetworks.com) announced on Monday that it has completed, along with systems integrator Silicomp Reseaux (silicomp.fr), an Internet acceleration project for e-TFI, the online arm of France's largest commercial TV network, TFI. According to Redline Networks, three of its T|X Web I/O Accelerators installed at the e-TFI data center allowed the site to handle the overwhelming increase in traffic generated by this month's 2002 World Cup Soccer series. "Thanks to the installation of Redline Networks T|X 2200 Web I/O Accelerators, we were able to manage peaks reaching 280,000 simultaneous connections ...
📅 - NetCarrier Opens New Jersey Colocation Facility - Integrated communications provider NetCarrier, Inc. (netcarrier.com), announced on Monday that it has opened a 2,000 square-foot Co-location facility in New Jersey. Instead of installing equipment at their own site, companies can use NetCarrier's co-location facility to handle their telecommunications needs, saving the expense of equipment and office space. The facility is located in the company's office in Cherry Hill, and supplements co-location facilities that it maintains in Lansdale, Pa. The co-location facility houses computer servers, telecommunications equipment and backup generators. Trained staff monitors the secure facility around-the-clock. ...