Windstream Defends Ch. 11 Plan From Noteholders

By Rick Archer (June 24, 2020, 9:57 PM EDT) -- Windstream Holdings Inc. on Wednesday defended its Chapter 11 plan in New York bankruptcy court from claims by unsecured noteholders that the plan grants first-lien creditors unjustified claims on the cable company's assets.

Over the course of a more than a seven-hour remote hearing before U.S. Bankruptcy Judge Robert Drain, counsel for Windstream argued that the plan offers the best recoveries for all parties, while counsel for unsecured noteholders said the first-lien lenders were being granted assets that should be unencumbered.

Windstream entered Chapter 11 in February 2019 after a district court ruled that the company's 2015 spinoff of real estate investment...

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