New Look Senior Issuer PLC

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Additional Information

Issue Number:

2018032202

Submitted by:

General Interest Question

Category:

Credit Event

Coverage Election:

2014 Definitions

Status:

Closed

Outcome:

Question Decided
Procedural History
- Closed
  
  DC Decision March 26, 2018
  EMEA DC Meeting Statement 26 March 2018
  The DC met today to discuss whether a Bankruptcy Credit Event had occurred with respect to New Look Senior Issuer PLC (the Reference Entity) as a result of the approval on 21 March 2018 of proposals for a company voluntary arrangement (the CVA) pursuant to Part I of the Insolvency Act 1986 of New Look Retailers Limited (the Company) by the requisite majority of the creditors of the Company.
  The Bankruptcy Credit Event applies strictly in respect of the Reference Entity, rather than any other entities within the Reference Entity’s group, and in this case the Reference Entity was not a party to the CVA. Accordingly, the DC resolved that a Bankruptcy Credit Event has NOT occurred with respect to the Reference Entity.
  3/26/2018 05:00pm EDT
- Request Accepted by DC
  
  3/23/2018 04:55pm EDT
- Pending DC Consent
  
  3/22/2018 04:35pm EDT