PCT has filed its reorganization plan in the U.S. Bankruptcy Court. PCT has the full support of its supply chain partners and lenders, allowing it to continue to serve its domestic and international customers. Additional capital contributions from shareholders are included in PCT’s plan, and the plan provides for full payment of its undisputed creditors.
Steve Youtsey, CEO of PCT, said, “This plan demonstrates that we are not about to abandon our customers or vendors. PCT has served the telecom industry faithfully and well for over twenty years and this plan shows that we will continue to do so. PCT has over 150 patents in our portfolio and our access to additional capital will allow PCT to expand upon our reputation as a leader in innovation and quality for global telecommunications infrastructure.”
PCT has also filed an adversary complaint in the U.S. Bankruptcy Court seeking relief against its former vendor, EZconn Corporation, from Taiwan and China, for giving PCT’s engineering and business trade secrets to a competitor, Holland Electronics, which is a subsidiary of Amphenol/Times Fiber. A favorable ruling on this adversary complaint would either entirely eliminate, or subordinate EZconn’s claims to those of PCT’s other creditors.
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over three billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide. To learn more, visit, http://www.pctinternational.com/our-company/.