LITTLE ROCK, Ark. (AP) - Windstream Holdings Inc. has filed for Chapter 11 bankruptcy protection less than two weeks after a court ruling favoring a New York hedge fund.
The Little Rock-based network communications and technology company on Monday announced the reorganization filing in bankruptcy court in New York. The filing affects all of the company’s subsidiaries.
A federal judge on Feb. 15 decided Windstream in 2015 violated terms of an agreement with bondholders by spinning off some telecommunications assets into a real estate investment trust. The decision involved Windstream’s Uniti Group Inc.
The judge ruled Aurelius Capital Management was entitled to a $310 million judgment.
Windstream says it has a $1 billion financing agreement with Citigroup Global Markets Inc. and business will continue as usual during bankruptcy reorganization.
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