Tag: Avaya Chapter 11

Avaya has announced that Jim Chirico, Avaya COO and global sales leader, will assume the position of CEO and join the board of directors, effective October 1, 2017. Current CEO Kevin Kennedy will retire from that role, as well as from his board position, but remain as an advisor to the company. (Photo/Avaya)

Avaya elevates Jim Chirico as CEO, Kevin Kennedy to retire

The incumbent, Kevin Kennedy, will retire as CEO and a member of the Board of Directors but will remain as an advisor to the company. Chirico will join the Board, said Avaya.
Struggling with its huge debt and waiting resolution to the Chapter 11 filing, US-based communication technology firm Avaya is looking to find a viable path to exit Chapter 11 which it filed over six month ago. (Photo/wikimedia.org)

Avaya announces plan support agreement, seeks to exit Chapter 11

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
- Advertisement -SAP Hana