Do you think the creditors, at least the big ones will be cheering for liquidation within the bankruptcy proceedings. It makes sense that they will try to get as much as they can out of WIN, rather than risk that the company sinks even lower.
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Personally I'm really impressed with how fast Texas got on the ball here. Every other party is probably Windstream, who dat? And every Texas county is Windstream? The taxman cometh. Pay up. It's also probably a sign that Texas has been paying attention to Windstream for awhile.
you axe, ' What is the position of the creditors' ?
their position is simple, down on all fours, with their butt checks spread and their mouths open, just like us employees.
Win is down for the count. Who would loan them money knowing they haven’t made a profit since 2015. Sell the assets, Win is worthless.
They're owed $370M just from the judgment alone, they've got their seat at the table.
"It should make Windstream very nervous that Aurelius is one of the creditors in question."
If they even end up on one of the official creditor committees: they are incredibly loathed by all the other creditors who they just screwed.
If this was the 8th grade, they'd get the ^#@ beat out of them by the others.
Bottom line: is Windstream worth more shut down and sold for assets (cars, etc.) or as an operating entity/entities?
I'd say at least some of the parts can make money, so they won't be liquidated.
Maybe Windstream will emerge as a single entity; the existing shareholders' stock will be canceled and the creditors will become new shareholders. Any new stock will be listed on the stock market. Any new stockholder who doesn't want to own stock in a telco can readily sell this new stock the day it starts trading.
Alternately, the parts that can make someone money will be sold to other companies. The remaining corporate shell will be liquidated (chapter 7, not chapter 11).
Either way: at least the ILEC is going to keep operating in one form or another as Windstream or as part of someone else. (I'm a worried ILEC customer - I don't know much about the CLEC operations)
It should make Windstream very nervous that Aurelius is one of the creditors in question.
It's still early in the bankruptcy process. The Texas governments at every level have at least said, we aren't listening to your nonsense, we get paid first.