Opinion ID: 2646701
Heading Depth: 2
Heading Rank: 1

Heading: GST’s Sale to Time Warner

Text: GST Telecommunication, Inc. (GST) was a telecommunications company that filed for Chapter 11 bankruptcy on May 17, 2000. In September 2000, Time Warner agreed to purchase certain assets of GST in bankruptcy, including GST’s mainland telephone network. The acquisition was made pursuant to an asset purchase agreement between Time Warner and GST, dated September 11, 2000. According to Time Warner, the asset purchase agreement gave it “all Carrier Identification Codes (a.k.a. CICs).” CICs are used to identify telephone calls associated with a certain carrier.1 Time Warner did not purchase all of GST’s assets, but rather, GST retained for later sale the assets of GST Hawaii’s operations, including all rights to what the asset purchase agreement called “Feature Group D” accounts. Time Warner maintains that although it acquired the Carrier Identification Codes from GST, GST recognized that it was still responsible to pay Time Warner the outstanding balance under certain CICs for services that GST customers had previously received.