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HomeMy WebLinkAbout20090522Cancellation Request.pdfI-BOO-Hien - ----____UNÐlm Because Everybod Needs A Phonem LOng tif\Y 22 r.""~ I:;â tk,~.¡ AM 8: 24 May 15, 2009; Idaho Public Utilities Commission P.O. Box 83720 Boise, il 83720-0074 b¡L~-( -q7-(3 Re: 1-800-Reconex, Inc., d/b/a Us. Tel Dear Sir or Madam: I am the former Vice-President & General Counsel of 1-800-Reconex, Inc., d//a U.S. Tel (Reconex). I now handle special projects for the company in the role of Special Counsel- I am writing to you in that capacity. As a result of adverse financial conditions, Reconex has ceased normal operations and will completely cease doing business, having no remaining employees no later than May 31, 2009. The assets of Reconex are being returned to leasing companies, or being liquidated, with the proceeds going to secured creditors. As a result.of the amount of secured debt, and the relatively small value of Reconex' s . assets, we do notaiiticipate any further distrbution of fuds to entities other than these secured creditors, in truth, the value of the assets wil not begin to cover the secured debt. Because there are no other assets to protect, we will not defend any lawsuits brought against Reconex and we will simply let Reconex be involuntar dissolved by the State of Oregon Corporation Commissioner at the anual renewal time. My client is sorry for the inconvenience this may cause you and requests that you take whatever actions necessary to write-off any balances that may be due and to remove the company from your systems. Very truly yours, rQ~ WillamE.Braun Special' Counsel 2500 Industrial Avenue · Hubbard, Oregon 97032 503-982-8000 · Fax: 503-982-9000 . ww.reconex.com