Creditors’ schemes in the hot seat: the Nine Creditors’ Scheme of Arrangement

Introduction

On 29 January 2013, the Federal Court of Australia made orders approving the creditors’ scheme of arrangement between Nine Entertainment Group Pty Limited (NEG) and its senior and mezzanine lenders (Nine Scheme).

The Nine Scheme, made under Part 5.1 of the Corporations Act, follows Alinta and Centro as the third debt for equity restructuring of a major Australian company in as many years.

Filed under:
Australia, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Gilbert + Tobin, Beneficiary, Debt, Federal Court of Australia
Authors:
David Clee , Rachel Launders , Andrew Whittingham
Location:
Australia
Firm:
Gilbert + Tobin