Adler – English Court Sanctions Contentious Restructuring Plan of German Real Estate Company

Adler – English Court Sanctions Contentious Restructuring Plan of German Real Estate Company

On 12 April 2023, the English High Court sanctioned a restructuring plan (the Plan) for Adler, a German real estate company. The Plan amends six separate series of senior unsecured German law-governed notes (the SUNs), originally issued by a Luxembourg entity. Using the new cross-class cram down mechanism

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