Summary
The court ruling over 310 million of bonds has created paper losses in the billions of dollars. Uniti equity alone is down already over 1.3 billion. This temporary outcome is to be repaired and the only likely solution is a voluntary Chapter 11 restructuring. The most likely, and fair, outcome seems that all claims are kept as they were before the filing. Aurelius makes some nice money, paid not by Win but by CDS-investors, and Win will go back to work.
Disclosure: Those who made the decision to risk Windstream should be removed and replaced .....to survive the current executive management must go. Layoffs of non management and 1st and 2nd level management is not the answer...chapter 11 calls for restructure which MUST start at the top....for survival