NII Holdings Inc fka NIHDQ

[august1991]

NII Holdings Announces Voluntary Filing For Relief Under Chapter 11

4:00 PM ET 9/15/14 | PR Newswire

NII Holdings, Inc. (NASDAQ: NIHD) today announced that the Company and certain of its U.S. and Luxembourg-based subsidiaries commenced chapter 11 proceedings under the U.S. Bankruptcy Code for the Southern District of New York as the first step to restructuring its debt obligations and to improve the Company's liquidity. The Company has been in discussions with its major stakeholders over the last several months and is optimistic that those discussions will lead to a debt restructuring plan that will be reflected in a plan of reorganization that will be submitted in the proceedings in the near future. The Company's operating subsidiaries in Brazil, Mexico and Argentina are not part of the U.S. bankruptcy proceedings and will continue to operate on a "business as usual" basis.