Restructuring Plans · glossary
A noteholders’ decision at a meeting, under the terms of the Notes. It needs three quarters of the votes cast, and then binds every noteholder. The fund’s third of the Notes can block one, which is why Valkenrade uses a plan instead. Condition 12.2 · Chapter 2 · see Restructuring plan
Explained in Chapter 2, Restructuring Plan vs Scheme of Arrangement vs WHOA, of Restructuring Plans.
The main page for this term is Extraordinary Resolution, in Debt Capital Markets.
Noteholders can change their Notes by a vote. A change needs an Extraordinary Resolution: three quarters of the votes cast at a noteholder meeting. Each vote counts by the amount of Notes the noteholder holds. Once passed, the change binds every noteholder, even one that voted no or stayed away.Read Chapter 2, Restructuring Plan vs Scheme of Arrangement vs WHOA →
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