US-based communication technology firm Avaya which is looking to find a viable path to exit Chapter 11 said that its First Amended Plan Support Agreement dated August 6, 2017 has been executed.
Company informed that it has entered into a plan support agreement (PSA) with holders of over 50% of its first lien debt including certain members of the ad hoc group of first lien creditors. The first lien debt holders receive payment before all other debt holders, and have the legal right to seize property from a borrower
