Communications provider Mitel Networks seeking creditor protection in U.S.

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The Hamilton Spectator

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Communications provider Mitel Networks seeking creditor protection in U.S.

Communications technology firm Mitel Networks says it’s seeking protection from creditors in the United States in order to strike US$1.15 billion in debt.

The Globe & Mail

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Mitel files for creditor protection with restructuring plan aimed at ending chronic liquidity woes

Canadian tech pioneer has struggled with market shifts and consequences of the pandemic since US$2-billion private equity buyout in 2018

Bloomberg

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Canada’s Mitel Networks Files For Bankruptcy After Debt Workouts

Canada’s Mitel Networks has filed for bankruptcy in the US as the telecommunications firm continued to struggle after carrying out debt maneuvers about two years ago.

USA Herald

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Mitel Networks Wins Interim Approval for $60M Bankruptcy Financing

A Texas bankruptcy judge has granted Mitel Networks Corp. preliminary approval to access $60 million in debtor-in-possession (DIP) financing, providing the embattled communications software company with a financial lifeline as it navigates its Chapter 11 restructuring. The ruling, issued by U.S. Bankruptcy Judge Christopher M. Lopez during a brief hearing on Tuesday, allows Mitel to tap into the funds as it pushes forward with a prepackaged bank…

netzwoche.ch

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Mitel announces the restructuring of its corporate debt. Thus, the UC provider confirms rumors about a possible bankruptcy under Chapter 11 of the U.S. bankruptcy order. However, the restructuring should not affect the Swiss branches and their customers.

Techzine Europe

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Mitel restructures debt: new future after Chapter 11

To implement the restructuring, Mitel will follow a pre-approved plan.