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Byline: MICHAEL BRAGA firstname.lastname@example.org
SARASOTA -- Comdial Corp. has filed for Chapter 11 bankruptcy protection from its creditors, but that doesn't mean the end of the line for the beleaguered telecommunications equipment maker.
The company has received $3 million in debtor in possession, or DIP, financing, which will allow it to continue operating for at least three months.
It has also agreed to sell the majority of its assets to its largest investor and debt holder, Michael Falk, managing partner of ComVest Investment Partners.
Falk intends to convert Comdial from a publicly traded to a private company.
"As a …