Reuters reported a financial adviser to NII Holdings’ creditors testified the bankrupt wireless operator’s $4.35 billion restructuring plan is good for all creditors including those who oppose it.

According to Reuters , Andrew Scruton of FTI Consulting took the stand in the fifth day of a trial over a plan by NII, which operates the Nextel brand in Brazil, to hand control of the company to Aurelius Capital Management and other holders of $4.35 billion in debt.

Reuters said further the plan, which needs approval of Judge Shelley Chapman in Manhattan bankruptcy court, is supported by most creditors, but opposed by a bondholder faction known as the CapCo group.
Scruton, who advised NII’s unsecured creditors’ committee, said the deal will benefit the CapCo group, according to Reuters .

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