Low-cost carrierNorwegianhas sent its plan for financial restructuring to the Irish andNorwegiancourts, as it seeks permission from creditors and shareholders to continue the remodelling of its business and initiate a capital raise.
The examiner in Ireland will now present proposals for the restructuring based on the plan, which will then be passed to the Irish High Court for approval.
Norwegianis hopeful that the Irish court will make its decision within the next couple of weeks, after which the plan will be dealt with by the reconstruction process in Norway.
In November,Norwegianentered into an examinership and restructuring process which it hopes will enable it to reduce its fleet, cut its debt and secure new capital as part of i…
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