This morning Uniti Group responded in defense of its lease payments from Windstream after filings from UMB Bank NA and U.S. Bank NA. According to the Wall Street Journal on Friday, these creditors are seeking to have Windstream withold its $54M in monthly rent to Uniti for its fiber network.
The underlying deal in which Windstream spun off Uniti four years ago and rented back its fiber came back to haunt Windstream in a big way this spring when it lost a big lawsuit to Aurelius Capital Management and was driven into chapter 11 bankruptcy protection.
