New Fortress Energy Inc. Announces Approval of UK Restructuring Plan
New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) refers to its previous announcements in relation to the consensual UK Restructuring Plan (the "UK RP") between its subsidiaries, NFE Global Holdings Limited (“NFE Global”) and NFE Brazil Newco Limited (“NFE Brazil”, together with NFE Global, the “Plan Companies”), and certain of their creditors (the "Plan Creditors").
NFE is pleased to announce that the UK RP has been approved today at a hearing in the High Court of Justice of England and Wales before Mr. Justice Cawson, where the Plan Companies were granted an order sanctioning the UK RP, which are two inter-conditional restructuring plans proposed by each of the Plan Companies (the “Sanction Order”). The Sanction Order will shortly be filed with the Registrar of Companies and the UK RP will become effective in accordance with its terms.
Plan Creditors showed overwhelming support for the UK RP at the meetings of Plan Creditors convened earlier this week on June 15, with 99% of Plan Creditors voting in favor of the UK RP and unanimous consent obtained in nearly all classes of Plan Creditors.
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