I received an Email from IAUG stating that Avaya has filed for Chapter 11.

Google will likely have links to general news coverage.

For those not inclined to use an Internet search here's a link: https://uc3.co/2017/01/avaya-bankruptcy-a-new-dawn-or-the-beginning-of-the-end/

another article

https://fortune.com/2017/01/19/avaya-bankruptcy/

It now appears the pension plan is 1.2 Billion under funded

Probably the same guys who designed the cover for the new Partner 5 slot carrier. About 1-1/2 inches too short.

-Hal

Hal.
That's why most covers are on the floor .
Gary S.

Wow, I thought my pension plan was under funded

Soon to be the NEW Avaya . Bye bye hardware

Shhhh. That's our little secret.

-Hal

Or not.
I seem to remember a conversation where Hal said i was drinking the Avaya coolaid, and avaya was going to fizzle away. With that proclamation wrong, we go back to the hardware discussion.

Oh, and according to the filings, the pension will get the 1.2 billion back and fully fund 1 pension, and worst case, the second will get 95% funded...

But that is our little secret.

As they try to come out of chapter 11, what will the new Avaya look like .

How will they get funding to move on.

Nov 28 is the vote for all creditors, which was supposed to be the 18th, but judge allowed them more time for whatever stuff.
Avaya has the majority of the creditors approval for the new "plan" on exit...

At the same time, Avaya will be a public company. First privately traded, then in Feb or so, publicly traded.
And, if not enough going on, effective Oct 1, Avaya has a new CEO. Now, those of us that had known the previous CEO (Kevin Kennedy) just about broke our hands clapping for that announcement. Kevin had a bloated executive council, not worthy of being a part of a public company, and hence, the new CEO (Jim Chirrico) removed most of the seats (12 Executive Council members) down to 6.

The new CEO is an operations guy. Hire the technologists to steer the company, while the CEO makes it less difficult to do business with.

Time will tell, but i think the outlook is positive.
Avaya has published the numbers since being taken private. If you look at the numbers over the last year, there was NOT a massive drop that one would usually associate with CH11. Fiscal Q3 (March) had such revenue that the creditors complained, thus drawing out the CH11 process this long.

So, thoughts on the fact that:
1) Avaya exits CH11
2) Avaya exits CH11 as a public company


Curious to hear other peoples input....

https://www.avaya.com/en/about-avaya/newsroom/news-releases/2017/pr-us-171128/