Avaya out of Chapter 11

Written by Mark Evans

Avaya Holdings has announced that it has successfully completed its debt restructuring and emerged from chapter 11 protection in the US.

“This is the beginning of an important new chapter for Avaya,” said Jim Chirico, Avaya’s president and CEO. “In less than a year since the commencement of our chapter 11 restructuring, Avaya has emerged as a publicly traded company with a significantly strengthened balance sheet.”

Avaya is now looking to list on the New York Stock Exchange and the company expects to have approximately 110 million shares outstanding upon emergence.