Vendor VP talks through plans to emerge from Chapter 11 this autumn
Avaya is aiming to complete its Chapter 11 restructure this autumn, according to vice president of finance at the firm Bill Sherry. The comms vendor announced yesterday that a group of Avaya shareholders - who are owed more than 50 per cent of Avaya's first lien debt, have signed an agreement to support its amended restructure plan, wiping more than $3bn from Avaya's debts. Former CEO Kevin Kennedy - who has now stepped down from his post following the announcement - described the news ...
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