I'm leaning towards YES, but it is a complex state. They just now announced a plan to leave chapter 11, so the likelihood of leaving ch11 is high. The trouble is afterwards.
Well after filing for ch11 they finally got a product that seems to be a game changer, the multichannel call center. The question will be whether it is good enough to flourish without a company in a state good enough to push it along, and then pull the company forward.
It is a good start, but Avaya will only cut by half its interest payments, and then will have to pay those in an even harder status with customers jittery about its capacity to survive.