Avaya reaches debt restructing deal with creditors to exit bankruptcy

Telecommunications Company Avaya reaches debt restructuring deal with creditors to exit bankruptcy

Telecommunications firm Avaya announced on Monday that they now have a clear path to exit Chapter 11 bankruptcy by reaching an agreement with its senior creditors and the government’s pension insurer. The arrangements could cut more than $3 billion from the $6.3 billion in debt Avaya had when it entered bankruptcy in January. Avaya had…

Avaya Files For Chapter 11 Bankruptcy, What Now?

Avaya, after much anticipation, finally made it official by filing for Chapter 11 Bankruptcy.   Avaya is one of the recognized leaders in providing global solutions for customer and team engagement, business phone systems, unified communications, networking and a host of other telecommunications products. The move was made in an effort to get out from…