Hertz Exits Chapter 11 with Corporate Debt Reduced by Nearly 80%

Hertz Global Holdings completed its Chapter 11 restructuring process and emerged from bankruptcy. Hertz received bankruptcy court approval of its plan of reorganization on June 10.

July 1, 2021 Apollo Capital Management | Certares Opportunities | Henry Keizer | Hertz Global Holdings | Knighthead Capital Management | Paul Stone Ian Koplin

Hertz to Fund Chapter 11 Exit with $6B Bid From Knighthead, Centares and Apollo

Hertz selected and approved a revised proposal from certain funds and accounts managed by affiliates of each of Knighthead Capital Management, Certares Opportunities and Apollo Capital Management (together with Knighthead and Certares, the KHCA group) to provide the equity capital required to fund Hertz’s revised plan of reorganization and exit from Chapter 11.

May 14, 2021 Apollo Capital Management | Centerbridge Partners | Certares Opportunities | Dundon Capital Partners | Hertz International | Knighthead Capital Management | Paul Stone | Warburg Pincus Ian Koplin

Hertz Receives Revised Reorganization Proposal for Chapter 11 Exit

Hertz Global Holdings received a revised proposal from affiliates of Knighthead Capital Management, Certares Opportunities and Apollo Capital Management to provide equity capital required to fund Hertz’s exit from Chapter 11.

May 5, 2021 Apollo Capital Management | Certares Opportunities | FTI Consulting | Hertz Global Holdings | Knighthead Capital Management | Moelis & Co | White & Case Ian Koplin

Hertz Progress Toward Chapter 11 Exit, Continues Plan of Reorganization Sponsorship Negotiations

Hertz will continue the process of negotiating the terms on which its plan of reorganization will be sponsored without delaying its goal of exiting Chapter 11 by early to mid-summer.

March 31, 2021 Centerbridge Partners | Certares Opportunities | Dundon Capital Partners | Hertz | Knighthead Capital Management | Paul Stone | Warburg Pincus Ian Koplin

Hertz Files Plan of Reorganization, Knighthead and Certares to Serve as Plan Sponsors

Hertz filed its proposed plan of reorganization and related disclosure statement with the U.S. Bankruptcy Court for the District of Delaware. Knighthead Capital Management and Certares Opportunities will serve as the plan sponsors.

March 3, 2021 Certares Opportunities | FTI Consulting | Hertz | Knighthead Capital Management | Moelis & Co | Paul Stone | White & Case Phil Neuffer