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NII Holdings files for bankruptcy protection

September 2014

Client(s) NII Holdings, Inc.

Jones Day represented NII Holdings, Inc. and certain of its affiliates ("NII") in its chapter 11 bankruptcy cases. NII filed with more than $5 billion in debt and had a complex capital structure involving several financings issued by entities in differing jurisdictions and of differing structural seniority, including secured financings to non-debtor operating companies in Brazil, Mexico and Argentina.

Jones Day advised the company in its global restructuring efforts, including negotiations with several creditor constituencies and the sale of its Mexican operations managed by its indirect subsidiary, Nextel de Mexico, S.A. de C.V., to AT&T for $1.875 billion, which was conducted pursuant to section 363 of the Bankruptcy Code.

The restructuring efforts led to a global settlement effectuated through a chapter 11 plan. On June 19, 2015, Jones Day secured approval for this reorganization plan following a 9-day contested trial on confirmation. The company emerged from chapter 11 on June 26, 2015.

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