Nextel operator NII Holdings files for Chapter 11 in New York court
Sept 15 (Reuters) - NII Holdings Inc filed for bankruptcy protection in the United States on Monday as the Nextel operator in Latin America struggles with $5.8 billion in debt and fierce competition in its key markets of Brazil and Mexico.
The Reston, Virginia-based company made a voluntary petition for Chapter 11 at a bankruptcy court in the southern district of New York, according to a filing. In the filing, the company said it estimates that funds will be available for distribution to unsecured creditors. (Reporting by Guillermo Parra-Bernal; Editing by Meredith Mazzilli)
© Thomson Reuters 2016 All rights reserved.