Incomnet Unit Files Reorganization Plan

Incomnet Communications Corp., a provider of long-distance and other telecommunications services, said Friday that it has filed a joint reorganization plan in U.S. Bankruptcy Court. The company said the plan, which it hopes to have approved over the next few months, would allow it to emerge from bankruptcy as a privately held company. Incomnet and its publicly held parent company, Incomnet Inc., each filed bankruptcy petitions last September under Chapter 11 of federal bankruptcy laws. The reorganization plan focuses on the core business and lays out a plan of action to improve financial results, cash flow and long-term viability.