From the document filed today, Avaya said they are on the way in achieving the forecast revenue (~780mill) for Q2 and adjusted EBITDA target which they set a week before filing chapter 11.
They stated that the forecast was put forth to the BoD without the knowledge of "free falling" revenues due to the filing of chapter 11. That's a total lie!. Any exec with an ounce of business sense would know that revenues would fall when you are filing for protection. They filed for chapter 11 just one week after presented a forecast of ~ 100mill drop of revenues from Q1 2017.
It's clever excuse to set a soft target in order in to grab some more cash from the company/retirees and current employees and reward themselves with the ridiculous bonus.
These guys have been doing this for years and not just now. Hopefully the judge can smell out this scheme and rejects the motion.