Restructuring Plans · glossary
A contract in which those who back a restructuring promise to support it before anyone votes. Signers vote for the plan, do not sue while it goes through and waive the defaults it causes. Valkenrade signed one with the bank, the family and noteholders holding €200 million. Lock-up Agreement, as summarised, paragraph 6.1 · Chapter 1 · see Accession letter, Consent fee, Standstill
Explained in Chapter 1, What a Restructuring Plan Is and Why a Company Uses One, of Restructuring Plans.
A lock-up is a contract in which creditors promise to support a restructuring before anyone votes. Valkenrade signed one with the bank, the family and the noteholders who back its plan. Each signer promises to vote for the plan and not to sue while it goes through.Read Chapter 4, The Lock-up Agreement: Undertakings and Consent Fee →
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