August 22, 2017 / 10:01 PM / a year ago

Avaya and unsecured creditors reach deal in Chapter 11 case

Telecommunication company Avaya Inc said on Tuesday it will increase funds available for its unsecured creditors to $60 million, a move intended to help smooth the path for an exit from its Chapter 11 bankruptcy.

Avaya in papers filed in U.S. Bankruptcy Court in New York said the increase is part of an agreement struck in ongoing talks with its official committee of unsecured creditors.

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