Not for long, however.
On Friday, the judge postponed decisions on the plan after an alternative offer surfaced to fund the company s exit from bankruptcy a day earlier, giving Hertz little time to adequately review it.
Hertz attorney Tom Lauria, with White & Case, characterized the offer as a classic bear hug, and an 11th-hour uninvited proposal leaked to the press.
The Wall Street Journal ran a story about the competing plan, ahead of the court hearing after getting a news tip about it from the investors behind it.
Investment firms Knighthead Capital Management and Certares Management have strengthened their bid, in hopes of beating out the group Hertz chose over them a few weeks ago.
Hertz bankruptcy: Company seeks judge s approvals as deadline nears
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Comment Hertz veut sortir de la failllite
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