Visit Florida
http://admin.travelmole.com/images/stories/2009/images/unnamed (4)(1).jpg

Published on Tuesday, April 13, 2021

Norwegian's restructuring plan receives court approval






Norwegian's proposal for restructuring has received approval in its home country.


The Oslo County Court approved the plan which means it has the legal green light for the group's reconstruction processes in both Norway and Ireland.


 The company will now prepare the process of raising new capital.


The court reached a positive conclusion after the creditors approved the Norwegian reorganisation plan in a reconciliation period that ended on Friday 9 April.


"We are very pleased with this important positive decision by the court. Once we have passed these two biggest legal milestones we can look forward to continuing the work of raising new equity." said Jacob Schram, CEO of Norwegian.


"I stand very proud of the achievements that Norwegian has accomplished throughout this period and I am grateful to work alongside so many colleagues that have shown such unwavering commitment. At the same time, I wish to recognise the crucial support that we have received which has enabled us to continue our business."


The rulings in both Ireland and Norway become final when the planned equity has been obtained. The capital raise is expected to be completed during the month of May.

Story Image



Your Comments

, be the first to post a comment.
Your email:






Email other comments made to this story


NOTE: Comments are subject to admin approval before being posted.
Mole Poll
Do you expect an 'avalanche' of orders this week ?



LATEST 'MOLE VIDEOS

We talk to TravelUNI about their recent Travel Agency Research

Two homeworking agents - how have they handled the Pandemic?

Alexis Peppis tells us all there is to know about Tiqets

TravelMole's Graham McKenzie talks with Micheal Ros, Hotel Booking disruptor Bidroom

Jerad Bachar of Pittsburgh about the future of city tourism

UPCOMING EVENTS
\m