Bay Country Communications has continued operations through a settlement with Bank of Commerce
Bay Country Communications, Inc. – This Maryland-based cable television provider had used the company’s stock as collateral for a loan on an investment property. A technical default on that property forced the company to file bankruptcy to hold off the creditor from foreclosing on the company.
SC&H Capital quickly began to market the company for sale, and more than 40 groups expressed an interest in the opportunity, including some of the larger national and regional cable providers. During valuation discussions with buyers, SC&H determined proceeds from a sale would likely never exceed the debt of the company. Armed with this information, SC&H negotiated a settlement with the lender for a fraction of the original debt, and Bay Country was able to exit bankruptcy and resume business as usual.