Avaya Faces Opposition To Ch. 11 Exclusivity Extension

Law360, New York (May 18, 2017, 5:42 PM EDT) -- Holders of more than $4.6 billion in first-lien debt against Avaya Inc. urged a New York bankruptcy court this week to reject the telecom giant’s request for a 120-day extension to exclusively file a Chapter 11 plan, criticizing the company’s current proposal and failure to include them in negotiations.

In an objection filed Tuesday, attorneys for an ad hoc committee of secured Avaya lenders fumed over the company’s lengthy request to keep the exclusive right to file a restructuring plan, saying a 30-day extension seems more...
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