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Reorg Radio
Expert Views - Unpacking the Adler Court Victory - A New Rulebook for Part 26A.
Feb 6, 2024
29:50
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Industry experts dissect the Adler Court Victory, discussing the overturning of the restructuring plan sanction and its implications on the industry. Topics include cross-class cram down conditions, challenges by creditors, expert evidence comparison, time pressures in Part 26A proceedings, and the impact of court rulings on restructuring challenges.
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Quick takeaways
- English restructuring plan requires meeting threshold conditions and considering cross-class creditor interests for financially struggling companies.
- Court of Appeal's successful appeal on Adler's plan emphasized fair distribution across creditor classes aligning with insolvency principles.
Deep dives
Adler Restructuring Background and Purpose
Adler, a German real estate group, faced liquidity issues due to asset value allegations and market decline. The restructuring plan aimed at a controlled wind-down, extending 2024 notes maturity and providing new money repayments priority.
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