On Oct 21, 2026, RiverStreet Networks filed for Chapter 11. It is a fiber and phone company in Virginia and North Carolina. Its court papers list contractors and suppliers among the creditors it owes millions, according to Wireless Estimator's report of the filings. If an ISP that owes you files, move fast. Some deadlines may already be running. Here are steps to take and questions to ask this week, and how to spot the risk before your next job.
Last updated Oct 28, 2026
Your first week
- Pull every open invoice for that ISP.
- Split the work at the filing date.
- Find the claims agent and the claim deadline.
- Ask a construction or bankruptcy lawyer in the state where the work is about your lien deadline, the same day if you can.
What happened at RiverStreet
- RiverStreet and 20 affiliates filed Chapter 11 on Oct 21, 2026, in the U.S. Bankruptcy Court for the Eastern District of Virginia, case 26-72823.
- It agreed to sell almost all its assets to a company tied to Oaktree Capital for $92.5 million plus some debts, if no one bids more and the court and regulators approve, according to Wireless Estimator's report of the filings and RiverStreet's Oct 21, 2026 release.
- Its court filings say it won about $480 million in grant and subsidy awards and received $188 million. It needed about $153 million more to finish, according to Wireless Estimator's report of the filings. It paused new construction in August 2025.
- Vendors and other creditors had demanded or sued for more than $35 million before the filing, according to Wireless Estimator's report of the filings.
| Contractor | Owed (as listed) |
|---|---|
| Lambert's Cable Splicing Co. (Sharpsburg, NC) | $12,640,366.49 |
| Complete Underground, LLC (Keysville, VA) | $5,421,000.00 |
| Whiting Construction Co. Inc. (Troutman, NC) | $3,994,486.53 |
| Quanta Telecommunications Solutions, LLC (Houston, TX) | $3,394,329.26 |
| Electricom (Paoli, IN) | $2,281,523.33 |
| TEP OpCo, LLC (Raleigh, NC) | $2,136,933.51 |
Not the first one this year
A Denver court put Maverix in receivership on Jan 22, 2026, after its lender sued over a defaulted loan, Wireless Estimator reported. Colorado said it did not learn of the receivership until April. Maverix filed Chapter 11 on Aug 31, 2026 (case 26-16423, District of Colorado). Colorado rescinded its $103 million provisional BEAD award, none of which had been paid out. Its largest listed unsecured creditor is Prodigy Excavating, at $2,600,069.08, according to Wireless Estimator's report of the filings.
Read more: Colorado's Maverix BEAD freeze.
SiFi Networks filed Chapter 11. Its plan was confirmed and took effect on Sept 30, 2026, according to the Stretto case page.
Read more: what SiFi Networks' bankruptcy meant for subs.
Three network owners, the same lesson. The crews who built the network can end up waiting in line.
How a grant-funded ISP can run short of cash
Nearly all of RiverStreet's state grant money was paid after the work, not before, its restructuring officer said in a sworn statement, according to Wireless Estimator's report of the filings. The ISP spends first, waits for the state, and borrows to cover the gap.
"The Company's model worked only so long as construction, reimbursement, borrowing and customer acquisition moved in lockstep."
Stuart Kaufman, chief restructuring officer, first-day declaration, via the same Wireless Estimator report.
RiverStreet missed an interest payment to its lender, CoBank, in August 2025 and paused new construction. Its restructuring officer said the grants then 'began falling into default,' according to Wireless Estimator's report of the filings.
If your contract says pay-if-paid or pay-when-paid, a frozen grant may slow your check too. Some states limit these clauses. Ask a lawyer what your clause means.
The ISP that owes you just filed. Your first week.
- Pull every open invoice for that ISP. Write down the dates the work was done.
- Split the work at the filing date. RiverStreet's own vendor FAQ asks vendors to send two invoices, one for work before Oct 21, 2026 and one for work on or after.
- Find the claims agent and the claim deadline. For RiverStreet, the claims agent is Epiq (dm.epiq11.com/riverstreet). As of Oct 28, 2026, the court docket (via Inforuptcy) shows proofs of claim due by March 1, 2027 (government claims April 19, 2027). Deadlines can change, so check the case page.
- Ask a construction or bankruptcy lawyer in the state where the work is about your lien deadline, the same day if you can.
- If they ask you to keep working, get the terms in writing first. RiverStreet says it intends to pay in full for work done on or after the filing date (vendor FAQ). RiverStreet's FAQ says bankruptcy law bars it from paying for work done before the filing without court approval. RiverStreet's vendor FAQ says vendors are 'required to continue performing under the terms of their contracts.' That is RiverStreet's statement. Ask a lawyer what it means for your contract before you stop or keep working.
General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
Your lien clock may keep running
A lien deadline is usually counted from your last day of work, not from the filing date. A bankruptcy filing usually does not reset it. Ask a lawyer how it works on your job.
- Virginia: A memorandum of lien is due no later than 90 days from the last day of the month you last worked, and no later than 90 days after the job is done or stops. It cannot cover work done more than 150 days before your last day of work, except some retainage (Va. Code 43-4).
- Subs in Virginia also have to send written notice to the owner, and a sub's lien can be limited to what the owner still owes the general contractor (Va. Code 43-7).
- North Carolina: A claim of lien is due no later than 120 days after you last furnished labor or materials at the site (N.C.G.S. 44A-12(b)).
- In North Carolina, many projects name a lien agent, and subs may need to send that agent a notice early in the job. Missing a required notice can weaken your lien rights. Ask a lawyer which notices apply to you (N.C.G.S. 44A-11.1 and 44A-11.2).
The bankruptcy pause does not always stop you from filing or keeping your lien (11 U.S.C. 362(b)(3) and 546(b)). Ask a lawyer if yours still counts.
Lien rights on a fiber network built in a right-of-way or easement may not work like a lien on a building. Ask a lawyer whether you have lien rights on this job.
General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
Warning signs before you mobilize
- The ISP paused construction or slowed new work (RiverStreet, August 2025, according to Wireless Estimator's report of the filings).
- The ISP missed a lender payment or is under a forbearance deal (RiverStreet, same report). These show up in news and court records, not on a bid sheet.
- A state pulled or froze its grant money. Virginia removed RiverStreet from $229.2 million in commitments by mid-2026, according to Kaufman's declaration as described in Wireless Estimator's report of the filings. Colorado froze Maverix payments and rescinded its BEAD award, according to Wireless Estimator's report.
- Other vendors are suing or demanding payment (RiverStreet, more than $35 million before the filing, according to Wireless Estimator's report of the filings).
- A lender sued over a defaulted loan and a court put the ISP in receivership (Maverix, Jan 22, 2026, Wireless Estimator reported).
- Slow pay that keeps getting slower on your own invoices.
None of these signs proves an ISP will fail. They are reasons to ask more questions before you mobilize.
Where to look (all free or low cost): your state broadband office news page, the FCC, local news, and PACER for federal court cases.
Before you sign, ask: Who pays this job, and when? Is the grant money paid up front or paid back later? Can your invoices line up with the ISP's draw dates? Does the contract waive lien rights? In North Carolina, a lien waiver you sign in advance to win a contract is against public policy and cannot be enforced (N.C.G.S. 44A-12(f)). Other states differ.
Read more: vetting a BEAD subgrantee, and cash you need before the first check.
Keep clean, dated paper on every job
- Dated proof of what you built: as-builts, redlines, daily footage, signed tickets, 811 tickets, photos with dates.
- Invoices sent on time, one per period, with dates of work on each.
- Any notice your state requires, sent and logged. Ask a lawyer which notices apply to you.
- Your COI, W9 and certs current, so missing paper is not the reason a check stalls.
Questions fiber subs ask
What happens to a subcontractor when the ISP that owes them files bankruptcy?
Money owed for work before the filing usually becomes a claim in the case. The ISP usually cannot pay it without court approval. You can file a proof of claim. Work done after the filing is treated apart. How much a claim gets paid depends on the case and the plan. General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
What should I do first if an ISP that owes me files Chapter 11?
Pull every open invoice and the dates of the work. Split the work at the filing date. Find the claims agent and the claim deadline. Then ask a construction lawyer about your lien deadline, the same day if you can. General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
Do I need to send two invoices after a bankruptcy filing?
In the RiverStreet case, yes. RiverStreet asked its vendors to send one invoice for work before Oct 21, 2026, and one for work on or after that date (vendor FAQ). If you send one invoice, mark the dates the work was done.
Can I still file a mechanic's lien after the owner files bankruptcy?
Maybe. Lien deadlines usually count from your last day of work, and they usually keep running. In some cases, a lien filing may still be allowed after a bankruptcy filing. Rules change by state, and a fiber line in a right-of-way may not work like a building. Ask a lawyer whether you have lien rights on this job, before your deadline passes. General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
How long do I have to file a lien in Virginia or North Carolina?
In Virginia, no later than 90 days from the last day of the month you last worked, and no later than 90 days after the job ends (Va. Code 43-4). Subs in Virginia also have to send written notice to the owner, and a sub's lien can be limited to what the owner still owes the general contractor (Va. Code 43-7). In North Carolina, no later than 120 days after you last worked at the site (N.C.G.S. 44A-12). Check with a lawyer for your job. General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
Where do I file a claim in the RiverStreet bankruptcy?
RiverStreet's claims agent is Epiq, at dm.epiq11.com/riverstreet. As of Oct 28, 2026, the court docket (via Inforuptcy) shows proofs of claim due by March 1, 2027. The case is In re RiverStreet Communications of Virginia, Inc., No. 26-72823, Eastern District of Virginia.
Will RiverStreet pay for work done after it filed?
RiverStreet says it intends to pay vendors in full, on normal terms, for work done on or after Oct 21, 2026. RiverStreet's FAQ says work done before that date cannot be paid without court approval (vendor FAQ). Get any new work terms in writing. General information, not legal advice. Talk to a construction attorney in the state where you did the work about lien deadlines.
How can I tell if a grant-funded ISP is in trouble before I mobilize?
Watch for a few signs. Work stops or slows. The ISP misses a loan payment. The state pulls its grant money. Other vendors sue. A court takes over the company. These signs do not prove an ISP will fail. Check your state broadband office, local news and court records. Ask who pays the job, and when.
Which contractors are listed as owed money in the RiverStreet bankruptcy?
RiverStreet's own list names six large contractor and engineering claims, according to Wireless Estimator's report of the filings (Oct 27, 2026). Lambert's Cable Splicing is listed at about $12.6 million. Complete Underground is listed at about $5.4 million. Whiting Construction, Quanta Telecommunications Solutions, Electricom and TEP OpCo are each listed at $2.1 million to $4.0 million. The six add up to about $29.9 million. These are listed amounts, not payouts.
Where TCS fits
Your crews mark the map on a phone and submit it. The tally is counted from the crew's marks and priced from your price book, ready for the invoice. Submitted tallies are permanent. If a map is resubmitted, the earlier version stays in the map's history. The office job list shows each job's count of submitted maps and the time of the last one. You can download the marked-up map as a PDF. TCS keeps crew and sub COIs, W9s, DWC83, and certs in one place, so the office can check them before the job starts.
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