Avaya to exit Chapter 11 as an important milestone

Avaya has released a statement on August 7, 2017, announcing that it has filed an amended plan of reorganization and disclosure statement, with the support of major stakeholders, representing an important milestone in the company’s restructuring process and giving a “clear and viable path to emerge from Chapter 11 in the near term”.

Vishal Agrawal, Managing Director, India and SAARC, Avaya, said that while Avaya Inc. has been working through the Chapter 11 process in the US, India business has progressed strongly. “This agreement provides a clear and viable path to exit Chapter 11 in line with our strategy. This is an important milestone as we work to emerge as a strong and competitive company in the coming weeks.”

“Over the last two years, we have been vocal about the transformation of the India business. We recognized the need to restructure in order to align to the demands of the Indian market and deliver software and services that local organizations need and ensure the success of our customers.”

“The transformation is proving positive – last year we reported that Avaya India closed its fiscal 2016 at a good quarter, and the business has continued to build from there. I am pleased to note this progress has continued with the local business, to date.”

“We take great pride with the level of confidence and support that we continue seeing from our customers and partners in India.”