AVAYA

Avaya is implementing a Financial Restructuring that will accelerate our ongoing business transformation and significantly enhance our ability to invest in our innovative cloud-based communications portfolio... To efficiently implement the Financial Restructuring, we are utilizing an expedited prepackaged court-supervised restructuring process. On February 14, 2023, Avaya and all of our U.S. subsidiaries filed voluntary Chapter 11 cases in the U.S. Bankruptcy Court for the Southern District of Texas... The court-supervised process we initiated remains on track, and we have a hearing to confirm our Plan of Reorganization currently scheduled for March 22, 2023. Due to the overwhelming support of our financial stakeholders, we expect to complete this process within 60 to 90 days. Our subsidiaries outside of the U.S. are not included in this process.