
This week, after months of speculation, Avaya announced its long awaited financial restructuring plans. The company has entered into a Restructuring Support Agreement (RSA) with 90% of the Company’s secured lenders. The company’s press release adds, “To efficiently implement the Financial Restructuring, Avaya and all of its U.S. subsidiaries today filed voluntary prepackaged Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas.”