UK Court Gives Malaysia Airlines Green Light for Creditors Meeting
(22 Jan 2021) Malaysia Aviation Group has received approval from a court in the UK to proceed with a major component of the group s comprehensive restructuring.
In September 2020, the group decided to embark on a holistic restructuring aimed at resizing the business so that it could emerge sustainably profitable in the long-term as Malaysia’s flag carrier with a stronghold in Asia-Pacific and an improved short-haul business model in ASEAN.
The group has since been in active discussions with key stakeholders and has managed to obtain what it described as overwhelming support to carry out its restructuring after
KUALA LUMPUR: Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, has successfully obtained the approval from the UK Court to proceed with a major component of the comprehensive restructuring of the group.
OBRASCÓN HUARTE LAIN, S.A. ( OHL or the Company ), pursuant to article 226 of the consolidated text of the Securities Market Act approved by Royal Legislative Decree 4/2015, of 23 October, hereby notifies the Spanish National Securities Market Commission (Comisión Nacional del Mercado de Valores) ( CNMV ) the following
INSIDE INFORMATION NOTICE
The Company informs that, in order to improve the financial situation of the Company together with its direct and indirect subsidiaries (the Group ), it is pleased to announce that Forjar Capital, S.L.U. and Solid Rock Capital, S.L.U., which are controlled by Mr. Luis Fernando Martín Amodio Herrera and Mr. Julio Mauricio Martín Amodio Herrera (the Amodio Shareholders ) and Grupo Villar Mir, S.A.U. ( GVM and, together with the Amodio Shareholders, the Key Shareholders ) and a certain group of holders of the Senior Notes (as defined below) issued by the Company composed of Beach Point Capital Management LP, Marathon Asset Managem
KUALA LUMPUR: Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines, has successfully obtained the approval from the UK Court to proceed with a major component of the comprehensive restructuring of the group.
Malaysia Aviation Group Bhd (MAG), parent of Malaysia Airlines Bhd which has been in discussions with its creditors since September last year, has successfully obtained approval from the UK Court to proceed with a major component of the group's debt restructuring. In a statement today, MAG said its aircraft leasing subsidiary MAB Leasing Ltd (MABL) had on Dec 23 last year issued a practice statement letter to certain groups of its creditors, notifying them of the company’s intention to file a scheme of arrangement under Part 26 of the UK Companies Act 2006