Avaya Files Ch. 11 Plan, Looks To Trim $3B In Debt

Law360, New York (August 7, 2017, 4:32 PM EDT) -- Bankrupt telecom giant Avaya Inc. announced Monday that it has reached terms on a restructuring plan with senior noteholders that would shave $3 billion in debt from the company's balance sheet and transfer its pension obligations to the U.S. Pension Benefit Guaranty Corp. 

Avaya said it has entered into a plan support agreement with a majority of its first-lien creditors that would allow the communications company to reduce its $6 billion in prepetition debt. The company, which entered Chapter 11 in January, looks to emerge from...
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Case Title

Avaya Services Inc.


Case Number

1:17-bk-10088

Court

New York Southern

Nature of Suit

Date Filed

January 19, 2017

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