Internet infrastructure provider ICG Communications will file a reorganization plan and disclosure statement with the U.S. Bankruptcy Court for the District of Delaware today in an attempt to emerge from bankruptcy.

ICG has had $150 million in available cash since Nov. 20, and has been EBITDA cash flow positive since March. ICG filed for Ch. 11 protection on Nov. 14, 2000.

If the company’s reorganization’s plan is accepted, ICG would emerge from bankruptcy with about $214 million in funded debt and more than $2.5 billion in unsecured debt. Liabilities would be converted into new common equity.

The plan also considers garnering additional funding through a rights offering so that claimants can invest in ICG.

--Amalia D. Parthenios, staff writer