India, Feb. 18 -- Windstream may be headed for bankruptcy
At issue was whether the carrier's bond provisions allowed it to spin off its Windstream Services subsidiary into a real estate investment trust (REIT) called Uniti Group -- a transaction that happened in 2015.
Light Reading reported on Windstream's plan back then. The carrier wanted to put its physical network assets ?- like its copper and fiber distribution networks ?- into a REIT, with the communications service providers using those assets as "tenants." The arrangement would give Windstream a way to reduce its debt, cut its dividend and, the company said, move more quickly to expand its broadband footprint.
The hedge fund Aurelius Capital Management, a major holder of Windstre...