Thu 02/17/2022 11:40 AM
Schur Flexibles has drawn just €12.5 million under its €100 million RCF, agent bank JPMorgan told lenders on
a call it hosted yesterday. There is no draw-stop on the facility, however following the
dismissal of the Austrian specialist flexible packaging group’s previous management over potential accounting irregularities and compliance issues, the new management team feels unable to make further draws on the facility due to personal liability risks until it has obtained a third-party IBR,...
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.