Tag: Avaya Chapter 11
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.
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