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newflow   Friday, 10/16/20 10:16:02 PM
Re: newflow post# 9314
Post # of 9357 
Page 16
As promptly as possible following the Distribution, Windstream Holdings and
Windstream Services complete any necessary wind-down activities (which may
include certain actions with respect to assets transferred to Windstream Holdings II
that are ministerial in nature, receiving and sending cash disbursements owed to
Windstream Holdings II or Windstream Services II, making cash disbursements on
behalf of Windstream Holdings II or Windstream Services II while bank accounts are
transferred, transferring payroll functions, and other activities of such nature). Once
such activities are complete, any remaining assets held by Windstream Holdings and
Windstream Services are transferred to Windstream Holdings II or Windstream
Services II pursuant to the Plan (which transfer shall be treated as part of Steps 8
and/or 9, as applicable
) and, once such activities are complete, Windstream Holdings
and Windstream Services liquidate and equity in Windstream Holdings is cancelled
for no consideration.


** I believe #8 is non-obligor debtor assets and as mentioned in the press that would be bulk of equity at the end would be sold ,JMO.**

Steps 8 and 9
8. On the Effective Date and following Steps 6 and 7, Windstream Holdings shall
contribute any assets (other than equity of Windstream Services and Windstream
Services II) it directly owns to Windstream Services
, and contribute Windstream
Services II to Windstream Services.
9. Immediately after Step 8, Windstream Services shall contribute all of its assets to
Windstream Services II, and Windstream Services II shall assume all liabilities from
Windstream Services that are not being discharged pursuant to the Plan.

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