August 25, 2017 / 9:56 PM / 2 years ago

Judge approves Avaya's disclosures for Ch. 11 restructuring plan

Telecommunications company Avaya Inc won court approval on Friday for its disclosures for its plan to exit bankruptcy, but it may have to fend off second-lien noteholders in a confirmation fight over its proposed repayments to them.

Judge Stuart Bernstein of the U.S. Bankruptcy Court in Manhattan approved Avaya’s disclosure statement on Friday, clearing the way for the Silicon Valley-based company to seek creditor approval for its reorganization in Chapter 11 bankruptcy.

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