The English High Court has sanctioned a restructuring plan in respect of EUR 3.2 billion of bonds issued by the German real estate business, Adler Group. The main objective of the plan.
What Happened - On 21 April 2023, Mr Justice Leech gave his written reasons for sanctioning the Adler Group’s novel and ground-breaking English restructuring.
April 21 2023, British High Court in Re AGPS Bondco Plc EWHC 916 reviewed English restructuring plan Virgin Active opposed by group of holders 2029 Notes AHG creditors, used cross class cram down power when cross lass cram down afford differential treatment pari passu creditors