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Author Topic: Windstream crashes after filing for bankruptcy (WIN)  (Read 473 times)

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Pat Goss

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Windstream crashes after filing for bankruptcy (WIN)
« on: February 26, 2019, 12:11:52 pm »


Windstream on Monday filed for bankruptcy reorganization under Chapter 11.
The decision came after Windstream lost a court battle with Aurelius Capital Management over whether it defaulted on its bonds in 2015 by spinning off Uniti Group.
Windstream said it choose to take this proactive reorganization step to ensure its operational momentum.
The company said it has received a commitment from Citigroup for $1 billion of financing to get it through bankruptcy.

Windstream, a provider of broadband and other data network communications, plunged 43% to $0.49 a share Monday after the company filed bankruptcy reorganization under Chapter 11.

The decision came after Windstream lost a court battle with Aurelius Capital Management over whether it defaulted on its bonds in 2015 by spinning off Uniti Group. The company chose to use the court-supervised process to address debt maturities that have been accelerated as a result of the recent decision by Judge Jesse Furman in the Southern District of New York against Windstream, according to a statement.

Windstream said it has received a commitment from Citigroup for $1 billion of financing to get it through bankruptcy.
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majestic

Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #1 on: February 26, 2019, 05:42:29 pm »

Windstream is the worst ISP ever known to exist. They deserve to disappear.
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McKdaddy

Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #2 on: February 26, 2019, 09:06:26 pm »

Windstream is the worst ISP ever known to exist. They deserve to disappear.


Agreed.
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Pat Goss

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Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #3 on: March 11, 2019, 07:05:09 pm »

they get 175-200 million a year in government subsidies. I finally got decent internet 2 summers ago.
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Pat Goss

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Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #4 on: March 19, 2019, 12:18:03 pm »

It's a cluster   management securing their golden parachutes, etc

WIN reports a $549 million loss in Q4  They had already sold off and began leasing back their corporate assets

Thread regarding Windstream Corp. layoffs
https://www.thelayoff.com/t/VTPFz1B

Topics regarding layoffs at Windstream Corp.
https://www.thelayoff.com/windstream


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Pat Goss

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Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #5 on: March 30, 2019, 05:01:15 pm »

Rep. Doug Collins (R-Ga.) released the following statement after the telecommunications provider filed for bankruptcy:

    “For years, Windstream has taken advantage of customers and taxpayers by promising speeds they know they can’t meet and failing to provide consistent broadband service while collecting taxpayer dollars and receiving substantial federal tax breaks. Despite it's bankruptcy status, the burden of Windstream's financial problems cannot fall on the shoulders of taxpayers who depend on their services to access the Internet. Windstream must continue to meet its obligations under the Connect America Fund to provide broadband service to rural communities like northeast Georgia.

    Since I first took office, I have received hundreds upon hundreds of complaints from Ninth District residents regarding virtually every aspect of Windstream’s service in Northeast Georgia. Businesses have been unable to operate efficiently because of unreliable service. Students in rural areas fail to gain access to high-speed internet they need to complete their school work at home. Despite repeated efforts to prompt Windstream to address these issues, they continue to fall short.

    I continue to believe increased competition spurs improvement, which is why I’ve introduced the Connect America Fund Accountability Act to hold providers accountable. I remain committed to holding carriers like Windstream accountable, and working to expand broadband access in Northeast Georgia and beyond.”
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Pat Goss

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Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #6 on: April 16, 2019, 06:20:17 pm »

Judge grants temporary restraining order for Windstream in lawsuit against Charter

On Monday, a bankruptcy judge granted Windstream Holdings a temporary restraining order against Charter Communications' advertising campaign that targeted its subscribers.

The judge ruled from the bench yesterday with a written order to follow, according to a Windstream spokesman. On April 5, Windstream filed a federal lawsuit against Charter
that said Charter was engaging in a "scare-tactic campaign" to entice Windstream subscribers to switch to Charter.

Charter declined to comment on the judge granting the temporary restraining order.

Little Rock, Arkansas-based Windstream, which filed for Chapter 11 bankruptcy protection in February, filed the lawsuit with the U.S. Bankruptcy Court in the Southern District of
New York.

Windstream said in its filing that Charter, which filed for its own bankruptcy protection back in 2009, used envelopes that "copied the same distinct color pattern from
Windstream’s current advertising campaign" and its trademarked name to imply that Windstream would not be able to provide services to its subscribers.

“Charter through its brand Spectrum, commenced a scare-tactic campaign to mislead, deceive, and confuse consumers regarding the reason, status, and consequences of
Windstream's Chapter 11 cases,” the Windstream complaint stated. “Charter disseminated false advertisements, directly targeting Windstream’s strongest customer bases in
Alabama, Georgia, Kentucky, Ohio, Nebraska, and North Carolina. With a clear intent to deceive, Charter’s advertisements were sent to Windstream’s customers in a manner
designed to make customers believe that the communication was from Windstream.”

Windstream filed a temporary restraining order against Charter and a preliminary injunction "to enjoin a false and misleading advertising campaign that was commenced by its
direct competitor, Charter, to deceive Windstream’s customers into believing that Windstream is liquidating and will no longer be providing them services."


https://www.fiercetelecom.com/telecom/judge-grants-temporary-restraining-order-for-windstream-lawsuit-against-charter

word on FB around Arkansas is you can't get WS to show up and install new services. People say they have a date and time and when it comes and goes they talk to WS and are told they've been rescheduled.
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99toLife

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Re: Windstream crashes after filing for bankruptcy (WIN)
« Reply #7 on: April 16, 2019, 06:23:15 pm »

Windstream is dead dead dead.....
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