News & Media
Beesion Technologies LLC Successfully Completes Financial Restructuring and Emerges from Chapter 11
Fort Lauderdale, FL, December 18th, 2020 — Beesion Technologies, LLC (“Beesion” or the “Company”), the pioneer of Low-Code BSS software, announced that it has successfully emerged from Chapter 11/Subchapter V, following an expedited court-supervised process and a consensual plan of reorganization, supported by all of its creditors that will pay 100% of all allowed claims. Building on its strong foundation and international customer base, the Company will continue to develop
telecom software products, solutions and services to drive additional value for customers as they continue adapting in response to the COVID-19 pandemic.
Beesion’s Digital BSS solutions (Business Support Systems) are helping Communications Service Providers (CSPs) to transform their businesses and become Digital Service Providers. Thanks to Beesion’s low-code development and a distributed microservice architecture, these solutions are 10x quicker to deploy,
support and expand, compared to the ones built with traditional development and a non-distributed architecture.
“With our stronger balance sheet and favorable conditions for dealing with our long term liabilities, we will continue our focus on developing innovative software solutions for the telecommunication industry and helping service providers throughout their digital transformation journey”, said Roberto Quiroga, Chief Operating Officer of Beesion.
Mr. Quiroga additionally expressed his appreciation for the strong support of Beesion’s customers, creditors, employees, and business partners during the Subchapter V reorganization process, which enabled the Company to file its Subchapter V petition in July 2020 and emerge as a reorganized entity within a very short period of time.
Through its financial restructuring process, the Bankruptcy Court for the Southern District of Florida (Fort Lauderdale Division) approved Beesion’s plan to pay 100% of its debt and free up sufficient working capital to continue to develop and implement strategic solutions for its customers.