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.
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.
The Wall Street Journal reported Knighthead Capital Management says it is “extremely troubled” by a lack of transparency for millions of dollars of fees charged in the liquidation of MF Global.
Patriot Coal announced that the Bankruptcy Court for the Eastern District of Missouri has approved the company to seek a creditor vote on its Plan of Reorganization.
Patriot Coal announced in documents filed with the U.S. Bankruptcy Court it reached an agreement with Knighthead Capital Management to financially sponsor Patriot’s emergence from bankruptcy.