In the wake of TelexFree’s emergency filing for Chapter 11 bankruptcy over the weekend, Steve Labriola was once again abandoned by TelexFree’s owners and left to face the company’s affiliates alone.
Appearing telephonically on a hastily announced call and sounding more spectator than corporate management, Labriola tried to appease TelexFree affiliates with what little information he had.
There are tons of questions out there I know, and I don’t have all of the documentation back from our lawyers on the things that I can and can’t say.
All I can tell you is that the Chapter 11 we filed was to help us reboot, rebuild and reformat our company, so we can move forward and build.
This is what we want as a team. This is what we want as a corporation and this is what all of you will see will be the best thing going forward.
TelexFree’s CEO in hiding Stuart Macmillan was absent from the call, with Labriola stating this was conveniently due to his being “on a plane, heading down to meet with the new platform company”.