Windstream Holdings took the plunge into voluntary Chapter 11 bankruptcy on Monday after a legal setback earlier this month.
Windstream lost a legal battle with New York hedge fund Aurelius Capital Management over whether Windstream had defaulted on bonds by spinning off Uniti Group four years ago. Windstream filed for Chapter 11 reorganization in the U.S. Bankruptcy Court for the Southern District of New York.
In the Southern District of New York, Judge Jesse Furman ruled that Windstream had to pay Aurelius about $310 million plus interest of roughly $61,000 per day.
