Windstream, ISP with 1 million customers, files for bankruptcy

Windstream's losing court battle was against hedge fund Aurelius Capital Management, "which had argued a two-year-old spinoff of the company's fiber-optic cable network violated the covenants on one of its bonds," which prohibited "sale-leaseback transactions," The Wall Street Journal wrote today.

Despite choosing not to appeal, CEO Thomas said that "Windstream strongly disagrees" with the court decision, and accused Aurelius of "engag[ing] in predatory market manipulation to advance its own financial position."