On 4 March 2024, Mr Justice Richards of the English High Court delivered a judgment (the Judgment) in relation to the sanction of the restructuring plan under Part 26A of the Companies Act 2006 (the Plan) of Project Lietzenburger Straße HoldCo S.à r.l. (the Plan Company). The Judgment required that a new creditors’ meeting of the Plan Company’s senior creditors be convened to vote on an amended Plan. A further sanction hearing will be held on 7 March 2024, and it is assumed that the Court will proceed to sanction the Plan on the basis of the reasoning set out in the Judgment. Greenberg Traurig, LLP co-advised an ad hoc committee of senior creditors to the Plan Company (the Senior Creditors).
English High Court Decision in Relation to Sanction of Fürst Part 26A Restructuring Plan
