Item 8.01 Other Events.
On
Subject to the entry of the Convening Order, and provided the Scheme is approved
by the majority in number, representing 75% in value, of the Scheme Creditors
present and voting either in person or by proxy at the Scheme Meeting, the
Cayman Court will hold a further hearing (the "Sanction Hearing") to determine
whether the Scheme should be sanctioned. As of the date of the filing of the
Scheme, Scheme Creditors holding 55.2% of the face value of the Notes (the
"Consenting Noteholders") are parties to the previously disclosed binding
Restructuring Support Agreement, dated
Assuming that (i) the Scheme is approved by the requisite majorities at the Scheme Meeting; (ii) the Scheme is sanctioned by the Cayman Court at the Sanction Hearing; (iii) the order sanctioning the Scheme is delivered to the Cayman Islands Registrar of Companies; and (iv) all conditions precedent to the Scheme's effectiveness are satisfied or waived, the Scheme will become effective in accordance with its terms, implementing the Restructuring contemplated by the RSA. Upon the occurrence of the aforementioned conditions, the Scheme will bind all Scheme Creditors, including those Scheme Creditors who voted in favor of it and those Scheme Creditors who voted against it or did not vote at all, in each case together with their successors and assigns.
The filing of the application for the Convening Order was made in accordance with the requirements of the RSA. Copies of the petition and summons filed in respect of the Scheme are to be made available to the Scheme Creditors on the scheme website at https://www.donlinrecano.com/atlascaymanislands (the "Scheme Website"). Following the Convening Hearing, and subject to the Cayman Court granting the Convening Order, copies of the proposed Scheme together with an explanatory statement, appendices thereto and related documents containing detailed information regarding the Scheme and the Restructuring will also be made available to the Scheme Creditors in the manner prescribed by the Convening Order, including via the Scheme Website.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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