Restructuring Plans · glossary
A few large noteholders who agree the terms with the company before the others are asked. Valkenrade’s had five members, with €120 million of Notes between them, and advisers that Valkenrade paid. Each member saw the secret business plan, so it became an insider and could not trade. Explanatory Statement, paragraph 1.4 · Chapter 3 · see Cleansing announcement, Inside information
Explained in Chapter 3, Bondholder Committees and Cleansing Inside Information, of Restructuring Plans.
Valkenrade cannot agree its plan with all its noteholders at once. So it talks first to a few large ones, who form a committee. To take part, they must see the business plan, which the market has not seen.Read Chapter 3, Bondholder Committees and Cleansing Inside Information →
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