ICC files for Chapter 11
Internet Commerce & Communications (ICC), a Web design and ISP (Internet service provider) headed by former Qwest executive Douglas Hanson, filed for Chapter 11 bankruptcy protection in an effort to restructure the company's ailing business. Hanson took over the CEO spot at ICC in 1997, when the company was known as Rocky Mountain Internet, as the result of a $3 million cash deal that also made him its largest shareholder at the time with a 15 percent stake. Hanson left Qwest in Nov. 1996. ICC started out as an ISP that also offered hosting and Web site development services then expanded into voice, calling card, and 800 number services. The company acquired Internet Communications in March of last year for $28 million, which was partially owned by Qwest chairman Phil Anschutz's Interwest Group. ICC's stock has traded within a range of $3.06 and 8 cents on the Nasdaq SmallCap market.
ICC started out as an ISP that also offered hosting and Web site development services then expanded into voice, calling card, and 800 number services. The company acquired Internet Communications in March of last year for $28 million, which was partially owned by Qwest chairman Phil Anschutz's Interwest Group. ICC's stock has traded within a range of $3.06 and 8 cents on the Nasdaq SmallCap market.