At BrantTel Networks we aim to bring you insight and transparency in this ever-changing industry. Today, we bring you news regarding Avaya's Chapter 11 proceedings once a more. In a recent announcement, included below, Avaya states that their restructuring plan has been confirmed by the courts and they will emerge by the end of 2017 as a public company.
Please read the Letter from Avaya below.
Avaya appreciates the trust and loyalty you have shown as you have stood by throughout its debt restructuring, so we want you to be among the first to hear that Avaya has reached the last major milestone in its chapter 11 process.
The Court has now confirmed the Avaya Plan of Restructuring, clearing the way for Avaya to emerge from chapter 11 by the end of 2017 as a public company. Earlier in the month, the company also secured $2.925 billion in exit financing that creates a simplified and greatly reduced debt structure.
Now, with a strengthened balance sheet, a new Board of Directors and new executive leadership team in place, Avaya is fully focused on the future and taking an open approach to creating even greater business value for you. We are also focused on ensuring we deliver beyond your expectations.
As Avaya’s momentum continues, the company fully recognizes that it would not have made it to this point without your support. Please know that everyone at Avaya thanks you for your ongoing trust and confidence, and we will take advantage of every opportunity to continue to earn it.
In the meantime, if you have any questions or concerns, please feel free to contact me. For questions specifically regarding Avaya’s chapter 11 process, please visit Prime Clerk’s website at https://cases.primeclerk.com/avaya or call their information line at 855-252-2156 (U.S. and Canada) or 917-651-0441(all other countries).
Thank you for your commitment and we look forward to continue working with you.
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