Thu 08/10/2023 12:08 PM
Wittur has secured the backing of well over 60% of first lien lenders for its restructuring proposal and is closing in on the 70% mark, sources told Reorg. The German elevator parts manufacturer is targeting a fully consensual deal and is offering lenders a 25 bps consent fee if 100% of lenders consent. If it is unable to secure unanimity, it will look to implement the deal via a U.K. scheme of arrangement or the German StaRUG process, the sources noted.
Since Wittur’s loan documentation is...
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