Скачать или смотреть Scandinavian Airlines Updates | SAS Receives Court Approval of Chapter 11 Plan

Scandinavian Airlines Updates | SAS Receives Court Approval of Chapter 11 Plan


Newsroom
SAS announces that the U.S. Bankruptcy Court for the Southern District of New York (the “Court”) has approved SAS’ Plan of Reorganization (“Chapter 11 Plan”).
The effectiveness of the Chapter 11 Plan remains subject to various conditions precedent, including approvals from various regulatory authorities and the completion of a Swedish company reorganization at the SAS AB level.
SAS currently expects to emerge from the chapter 11 process around the end of the first half of 2024, and reiterates its expectation that there will be no recovery for subordinated creditors and no value for SAS AB’s existing shareholders.
All of SAS AB’s common shares and listed commercial hybrid bonds are expected to be cancelled, redeemed and delisted in connection with emergence from the restructuring proceedings.
SAS’ operations and flight schedule remain unaffected by the restructuring proceedings and SAS will continue to serve its customers in the ordinary course throughout this process.
Additional information regarding SAS’ voluntary chapter 11 cases is available on SAS’ dedicated restructuring website, https://sasgroup.net/transformation.
U.S. court filings and other documents related to the chapter 11 cases in the U.S. are available on a separate website administered by SAS’ claims agent, Kroll Restructuring Administration LLC, at https://cases.ra.kroll.com/SAS.
Information is also available by calling (844) 242-7491 (U.S./Canada) or +1 (347) 338-6450 (International), as well as by email at [email protected].
Read more at: https://www.sasgroup.net/newsroom/press-re...