RESTRUCTURING

摘要

Punchtaverns released the results of its temporary waiver meetings, with quorum achieved (minimum 75% vote) on 11 of the 16 tranches. Meetings have been re-scheduled for the remaining five classes on May 13, where a much lower quorum of 25% is required. This looks likely to be passed given the high rate of acceptance from those investors that were present at the first round of meetings and because the ABI senior noteholder committee said it was in favour of the waivers when they were announced on April 7.