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FairPoint Out of Bankruptcy 

FairPoint Communications has emerged from bankruptcy reorganization nearly 15 months after initially filing because of high debt.FairPoint says its reorganization plan became effective Monday, January 24th. A full 11 days after being approved by the U.S. Bankruptcy Court for the Southern district of New York.The company says as a result of the restructuring it has reduced its debt from $2,800,000,000 to about $1,000,000,000, allowing it to focus more attention on customers, vendors and employees.