UNIT had $300M convertible notes issued today. Their stock dropped 10% today. Their outlook is as bleak as ours.
I suspect chapter 11 coming soon to them and a few months later to us.
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still waiting for the brain trust to explain why UNIT bankruptcy would be bad for WIN
'How often can a company do Chap 11? There should be a limit, first a re-org then if that doesn't work, force a Chap 7.'
In America - I can bet that companies can skirt around any 'limits' - since they do donate a lot to their favorite politicians.
Why would Uniti going into bankruptcy cause Windstream to go into it again? They're a vendor to WIN, who cares, what impact would that have
If you read the article and the speculators on Seeking Alpha you can read between the lines. They are restructuring debt which is the right thing to do. They are also keeping the ship afloat for another 6 months before they take on too much water.
They took a page out of the playbook from WIN.
You forgot that TT & company got their bought bankruptcy judge. It's just a matter of rinse & repeat.
How often can a company do Chap 11? There should be a limit, first a re-org then if that doesn't work, force a Chap 7.