Sanctioning of LBT Composition Plan Becomes Final:
Following a consent solicitation process (unprecedented in the Netherlands) which ended on 25 January 2013, the LBT Composition Plan, as proposed by the debtor LBT in its Dutch bankruptcy, was accepted by an overwhelming majority (of 99 percent in number and 96 percent in amount) at the so-called Claims Admission Meeting (verificatievergadering) (“CAM”) held in the Amsterdam District Court on 7 March 2013. The accepted LBT Composition Plan was subsequently sanctioned (i.e., confirmed) by the Amsterdam District Court in a sanction decision of 22 March 2013.
