Reuters) - Windstream Holdings Inc filed for bankruptcy protection on Monday, days after the rural telecom service provider lost a legal battle against Aurelius Capital Management over a spinoff of its network assets into a real estate investment trust.
A U.S. district court on Feb. 15 ruled against Windstream's spinoff of Uniti Group Inc, saying that violated agreements with bondholders, including hedge fund Aurelius.
"The Board of Directors and management team determined that filing for voluntary Chapter 11 protection is a necessary step to address the financial impact of (the) decision," Chief Executive Officer Tony Thomas said.
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