back to article Widow appeals to Avaya to protect death benefits after bankruptcy filing

The widow of an Avaya employee has said the troubled UK telco should not terminate her death benefits following its bankruptcy filing in January. Avaya had told the bankruptcy court that survivor payments are not a benefit covered under its Chapter 11 bankruptcy protection. It said the Survivorship Benefit is a pension, not …

  1. Anonymous Coward
    Anonymous Coward

    If a company continues to exist in any form, it should continue these types of payments.

    Bonus the execs who don't need it and take from the famlies that do... I'm eagerly awaiting the first gun shot. The pot will over boil.

  2. Anonymous Coward Silver badge
    Trollface

    Avaya's revenues fell to $958m (£763) for its fourth quarter, down from $1bn (£800m) last year. And the company posted a net loss of $750 (£598m).

    Wow, exchange rates are really volatile these days!

    1. Jeffrey Nonken

      "Wow, exchange rates are really volatile these days!"

      *snort* Yeah, major upheavals before you can even finish a sentence!

  3. Anonymous Coward
    Anonymous Coward

    "That debt arose from an $8.2bn (£6.5bn) buyout in 2007 by private equity firm Silver Lake Partners."

    One of those deals where a company is bought with its own money/assets ?

    1. Anonymous Coward
      Anonymous Coward

      "One of those deals where a company is bought with its own money/assets ?"

      I had that happen to a company I worked for in the 90's. Bought by an "investment group", had almost all assets stripped away to pay for the acquisition, then the "investment group" spun the company back off with all the resulting debt. Of course at this point, it was teetering on bankruptcy through little fault of its own. Precious little investing occurred, but LOTS of marginally legal daylight robbery. Think that sort of thing ended in the Corp Raider days of the 1980's? Think again...

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