WIN - Windstream's Reorganization Plan-What I Am Expecting
Because of a vulture hedge fund, Aurelius Capital Management, Windstream Holdings, Inc (WIN) was forced into filing for Ch.11 bankruptcy. I am not expecting any recovery for WIN shareholders under a reorganization plan-not even token payments for releases. Unsecured note holder's recovery will depend upon the amount determined under a reorganization plan for the value of "New Equity ", which will be the key contested issue during the bankruptcy process. The lease with Uniti Group Inc (UNIT) could be renegotiated on more favorable terms for Windstream. While investors are being hurt