CGG: massive acceptance of chapter 11 plan.
(CercleFinance.com) - CGG has announced the mass acceptance of Chapter 11's plan by the creditors authorised to vote in this procedure.
Chapter 11 proceedings were opened on 14 June 2017 by the US Bankruptcy Court of the Southern District of New York regarding CGG's 14 main foreign subsidiaries and sub-subsidiaries, with each either in debt or guarantor in respect of the CGG Group's existing financial debt.
More specifically, creditors having voted under Secured Loans unanimously voted in favour of the plan, and the majority of 97.14% (number) and 97.96% (amount) of the senior bond holders voted in favour.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Chapter 11 proceedings were opened on 14 June 2017 by the US Bankruptcy Court of the Southern District of New York regarding CGG's 14 main foreign subsidiaries and sub-subsidiaries, with each either in debt or guarantor in respect of the CGG Group's existing financial debt.
More specifically, creditors having voted under Secured Loans unanimously voted in favour of the plan, and the majority of 97.14% (number) and 97.96% (amount) of the senior bond holders voted in favour.
Copyright (c) 2017 CercleFinance.com. All rights reserved.