Is a Windstream Bankruptcy Filing Imminent?
There is growing speculation that a Windstream bankruptcy and massive downsizing are imminent in the wake of a devastating court ruling, which was handed down by the U.S. District Court of the Southern District of New York on February 15.The Story So FarThe court ruled that in 2015 when Windstream spun out its internally-managed real estate trust Uniti Group, it improperly transferred over $300 million worth of assets that served as security for bonds issued by Aurelius Capital Management LP. Uniti Group is Windstream’s largest customer, with assets that include over 4 million fiber strand miles and around 850 wireless...