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Avaya Files for Chapter 11 Bankruptcy - News

Avaya Holdings Corp., a global leader in solutions to enhance and simplify communications and collaboration, has entered into a Restructuring Support Agreement (the “Financial Restructuring”) with overwhelming support of more than 90% of the Company’s secured lenders (the “Investor Group”). Implementing the Financial Restructuring will accelerate...
United States Alan Masarek Ringcentral Inc Akin Gump Strauss Hauer Feld Ringcentral Avaya Cloud Office Investor Group

Avaya Takes Action to Accelerate Transformation and Fortify Capital Structure

Secures Approximately $780 Million in Committed Financing; New Capital Will Accelerate Investment in Avaya’s Leading Cloud Communications Portfolio Enters Agreement to Eliminate More Than 75% of Debt and Substantially Increase Cash and Liquidity Initiates Expedited, Prepackaged Financial Restructuring via Chapter 11 with Overwhelming Support of Financial Stakeholders Expects to Complete Process in 60 to 90 Days; Paying Vendors and Suppliers in Full and Paying Employees as Usual Extends and...
United States Alan Masarek Ringcentral Inc Akin Gump Strauss Hauer Feld Ringcentral Avaya Cloud Office Investor Group

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