February 27, 2019 News: On the heels of a recent $310 million judgment in favor of bondholder Aurelius Capital Management, Windstream Holdings Inc. filed for Chapter 11 bankruptcy protection on February 25. The bankruptcy filing, which was widely expected given the recent Aurelius judgement (which Windstream has since appealed), alongside more than $5.8 billion in debts that the rural phone company had racked up over the last several years, means that Windstream will continue operating through a multi-year financial restructuring plan. As with virtually all bankruptcy filings, the only winners in this disaster will be select Windstream executives and managers who get to...

There is growing speculation that a Windstream bankruptcy and massive downsizing is 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 Far The court ruled that in 2015 when Windstream spun out its internally-managed real estate trust Uniti Group, that 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...