Digitcom files intention to propose paying back creditor debt

By Ahmad Hathout TORONTO -- Digitcom Telecommunications Inc., the voice and data communications company founded in 1991 that over the past couple of years grew through acquisitions, is insolvent. On October 31, the Markham-based company filed with the Superintendent of Bankruptcy Canada an intention to propose a plan to its creditors to pay off debts. A subsequent note went out to its creditors on November 2. The company, which hired accounting firm Grant Thornton as trustee, has a long list of creditors with debts amounting to millions, including a $3.5-million loan from TD Bank -- its senior lender. The proposal...