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.
