The submission of the restructuring plan is being delayed so they can have additional discussions with creditors. This sounds to me like their plan has not been well received by the creditors - which means that it will ultimately be decided by the bankruptcy court. I suspect that the creditors are considering whether it is in their best interest to accept the debt for equity plan and trust that Avaya will succeed -OR- whether it would be best to liquidate all the assets, take the money, and call it a day.
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Exactly! It's so obvious that they've been unable to get consensus from the creditors. They claim that they delayed filing the plan so they could have additional "brief" discussions with the creditors? Give me a break. In fact, had they been able to reach an agreement, there would have been no need for bankruptcy to begin with. The "leaders" have some delusional belief that they can trade equity for the massive debt and go on their merry way. Not so fast. The creditors aren't stupid and don't want to own Avaya - they want their money back. At this point, they'd be better off liquidating everything and moving on - which is very likely what will happen.
It's so obvious that the creditors are not in agreement with the plan. They simply want their money back - they don't want to own Avaya through some debt for equity swap. They will very likely end up liquidating all assets and moving on. Game over.
Exactly! It's so obvious that they've been unable to get consensus from the creditors. They claim that they delayed filing the plan so they could have additional "brief" discussions with the creditors? Give me a break. In fact, had they been able to reach an agreement, there would have been no need for bankruptcy to begin with. The "leaders" have some delusional belief that they can trade equity for the massive debt and go on their merry way. Not so fast. The creditors aren't stupid and don't want to own Avaya - they want their money back. At this point, they'd be better off liquidating everything and moving on - which is very likely what will happen. Game over.
There is no need for more cuts, it will be a firesale as they couldn't agree on the restructure plan with the creditors. Once KK and his gang get the bonus, KK will resign as requested by the board. The end is here! April 13 is the day, mark it.
please be patient while we cut 25% of our work force and send out more b---s--- emails
We would have filed the restructuring plan if not for judge asking for more information on the revenue numbers that he needs to consider our well earned bonus plan. Everyone will see how hard we've been working to come up with this comprehensive plan. I'm proud of my team and our employees are committed as ever and totally excited. The facts will be presented soon. Please be patient with this process and we will come out of it stronger than before.
KJK, great to see you posting again!
It's business as usual. They have 4 months to file the restructure plan per court document so there is plenty of times to cross the t's. They are doing their due dilligence and hard work to keep the company strong and stroner coming out of chapter 11.
For you minions, go back to work and freshen up your resumes