Windstream: Aurelius Pushes Back
Jul. 8, 2018 10:11 AM•WIN
Summary
Aurelius filed an opposition brief.
The brief addresses several hurdles that need to be cleared before the Judge will decide the core issue.
We finally have a precise figure for the financial damages Aurelius is requesting
From the filling
Awarding to Aurelius a money judgment of $310,459,959.10, plus interest from
and after July 23, 2018;
Interest rate of $ 62k a day!!!
But even worse...
a. Declaring that the New Notes (or, at a minimum, the New Notes issued in the 2022/2023 Exchange Offer) do not constitute Additional Notes under the Indenture;
b. Entering a permanent injunction barring the Company from taking any further action in contravention of the Indenture;
Ouch! The vulture capaitialists smell death. That is a sizeable share of the outstanding bonds. And you cant swap your way out of it.
Hope your lawyers can bail us out of this one.
I for one welcome our new overlords as I tidy up my resume.