Wed 09/13/2023 07:34 AM
UPDATE 1: 7:35 a.m. ET 9/13/2023: Wittur has secured the backing of more than 80% of its first lien lenders for its restructuring proposal, enabling it to launch a U.K. scheme of arrangement to implement the deal. The German elevator parts manufacturer has provisionally scheduled a convening hearing for Oct. 19 and a sanction hearing for Nov. 20, sources said.
However, Wittur is still targeting a fully consensual deal and is offering a 25 bps consent fee if 100% of lenders consent, to...
This article is an example of the content you may receive if you subscribe to a product of Reorg Research, Inc. or one of its affiliates (collectively, “Reorg”). The information contained herein should not be construed as legal, investment, accounting or other professional services advice on any subject. Reorg, its affiliates, officers, directors, partners and employees expressly disclaim all liability in respect to actions taken or not taken based on any or all the contents of this publication. Copyright © 2024 Reorg Research, Inc. All rights reserved.