Thread regarding Windstream Corp. layoffs

I've been trying to understand the various court filings on this topic at:

http://www.kccllc.net/windstream/document/list/4838

This is a great summary and explanation -- wish I'd read it earlier -- helps me understand what I'm seeing.

Looks like Uniti is going to take a haircut, it'll be smaller than TT has implied and Windstream will give up some stuff in return.

If the 2 companies reach agreement and the all creditors support the deal (I expect they will), then the court will approve it. That'll remove the legal cloud over the legitimacy of the lease. "Sanctifying" the lease, in turn, removes a cloud over the solvency of Uniti and will allow Uniti to raise capital and do more deals with other companies.

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It's possible the 2 indenture trustees (not to be confused with the totally separate "US Trustee") will hold out even if a deal is reached. If so, if all the other parties agree, I suspect the judge will rule against them:

• The judge has the right to cram the deal down their throats

••Quick simple cram-down explanation: https://thebusinessprofessor.com/knowledge-base/cramdown-of-chapter-11-bankruptcy-plan/

• Aside from cramdown issues, the 2 indenture trustees are making a tricky legal argument trying to thread the needle between some possible internal contradictions in their arguments

•• They filed a motion to exceed the number of allowed pages (40) for their upcoming memo on the subject

•• If everybody else supporting the deal that will just make the judge less eager to dive into the intricacies

•• Bankruptcy judges tend to take a "get 'er done" approach to processing their cases. Legal delays k--l sick companies and reduce the $$ for everyone. They're like emergency room docs.

Maybe the indenture trustees are technically right but then maybe nobody else is going to want to waste time and wade through all their stuff if a new lease is "good enough"

• TL;DR - "too long; didn't read"

A hearing is scheduled for July 26 - stay tuned