Windstream committee announces exclusivity extension length reduced

By Caroline Salls

Pittsburgh, June 12 – Windstream Holdings, Inc.’s official committee of unsecured creditors said in a statement filed Tuesday with the U.S. Bankruptcy Court for the Southern District of New York that the company has agreed to reduce the length of a requested exclusivity extension.

Specifically, the committee said the Windstream debtors have agreed to reduce the requested extension of their plan filing exclusivity period to 180 days from 270 days and their plan solicitation exclusivity period to 240 days from 330 days.

The creditor group said it has worked with the company and other stakeholders since the bankruptcy filing date to ensure Windstream’s exit from Chapter 11 is value maximizing.

“Despite open channels of communication, it is too early to engage in meaningful restructuring discussions with the debtors,” the committee said. “It is impossible to form any concrete views regarding a reorganization plan until the business plan has been fully vetted.”

The committee said it is “sympathetic to the debtors’ need to extend” the exclusive periods, but it felt the original extension length “is unwarranted.”

The modified proposed extensions are supported by the committee, the statement said.

A hearing is scheduled for June 17.

Windstream is a Little Rock, Ark., telecommunications provider. The company filed bankruptcy on Feb. 25 under Chapter 11 case number 19-22312.

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