RestructuringMay 18, 2026, 09:32 AM
New Fortress Energy Gets Court Approval for UK Restructuring Plan Meetings
AI Summary
New Fortress Energy Inc. announced that the High Court granted permission to convene meetings of creditors for its consensual UK Restructuring Plan (UK RP). This marks a crucial step in the implementation of the previously disclosed plan, following a Restructuring Support Agreement in March and a practice statement letter in April. Creditor meetings are scheduled for June 15, 2026, with a sanction hearing on June 18, 2026, and full implementation expected by Q3 2026, subject to court sanction and approvals.
Key Highlights
- High Court granted permission on May 14, 2026, to convene creditor meetings for the UK Restructuring Plan.
- Company previously entered a Restructuring Support Agreement on March 17, 2026.
- Practice statement letter for the UK RP was published on April 20, 2026.
- Deadline for submitting voting instructions for Plan Meetings is June 9, 2026.
- Plan Meetings for creditors will be held on June 15, 2026.
- The Sanction Hearing for the UK RP is scheduled for June 18, 2026.
- The UK RP is expected to be implemented by the third quarter of 2026, if sanctioned.
Price Impact
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