GTT Communications, Inc.
GTT Plan Accepted by All Voting Classes Ahead of Confirmation Next Week While UST Questions Plan Feasibility
Fri 12/23/2022 07:17 AM
Relevant Document:
Voting Tabulation
A voting tabulation for the GTT Communication debtors’ amended plan was filed Thursday evening, Dec. 22. According to the declaration submitted by Kroll Restructuring Administration LLC, the debtors’ claim and noticing agent, only two classes - Class 3 2018 credit facility claims and Class 4 senior notes claims - were entitled to vote, and both classes accepted, as summarized in the following table:
The U.S. Trustee has objected to confirmation questioning the feasibility of the proposed plan on the basis of dramatic reductions in the debtors’ revised financial projections.
The confirmation hearing is scheduled for Tuesday, Dec. 27, at 1 p.m. ET.
Voting Tabulation
A voting tabulation for the GTT Communication debtors’ amended plan was filed Thursday evening, Dec. 22. According to the declaration submitted by Kroll Restructuring Administration LLC, the debtors’ claim and noticing agent, only two classes - Class 3 2018 credit facility claims and Class 4 senior notes claims - were entitled to vote, and both classes accepted, as summarized in the following table:
The confirmation hearing is scheduled for Tuesday, Dec. 27, at 1 p.m. ET.
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.