Hearings
Court grants final DIP and cash-collateral authority
The court entered Avaya’s final financing order, converting the company’s first-day liquidity package into final authority for postpetition financing and use of cash collateral. The case opened with a prearranged restructuring built around approximately $500 million of DIP financing, a $150 million rights offering, and a plan to cut more than $2.6 billion of funded debt while leaving general unsecured creditors unimpaired. The Final DIP and Cash Collateral Order is therefore a central milestone in Avaya’s fast-track Chapter 11, giving the debtors runway to keep operating while moving toward confirmation on the accelerated timeline described in the first-day record.