Most creditors oppose restructuring, court to hear case in May
British specialty steelmaker Liberty Specialty Steel UK may face bankruptcy proceedings after all Greensill’s creditors and more than three-quarters of other creditors voted against the company’s restructuring plan. This was reported by Argus.Media, citing sources in the company.
The restructuring plan was considered at a hearing on April 30. Now the final decision is to be made by the court at a sanction hearing scheduled for May 15-16. If the judge finds the creditors’ position unreasonable, he can legally reject their vote. However, sources attending the hearing…
