Has a Bankruptcy Credit Event occurred with respect to Vue International Bidco PLC?
The Eligible Market Participant who submitted the above question did so in particular focusing on Section 4.2(c) of the 2014 Definitions and provided the following documents in support of their question:
- The financial restructuring page in relation to Vue hosted by Kroll – note the documents themselves are password protected: https://deals.is.kroll.com/vue
- The skeleton argument on Vue’s behalf in the High Court, dated 27 July 2022 (available on Reorg Research in an article from 27 July 2022 entitled "Vue Passes Convening Stage of English Scheme of Arrangement") https://reorg.com/restructuring-analysis-vue/.
- The article from Reorg research https://reorg.com/restructuring-analysis-vue/ with the headline "Restructuring Analysis: Vue Using Scheme to Allow incurrence of £75m Super Senior New Money; Dutch Enforcement, English Pre-Pack Administration Pursued for Equitization; €130M Event Claim Settlement Key to Successful Restructuring; Scheme Sanction Set for Early September; Pro Forma Cap Structure Included"
- https://vue-international.com/our-media/press-releases/vue-completes-recapitalisation
- https://www.lw.com/en/news/2023/01/latham-advises-committee-of-lenders-on-recapitalisation-of-vue-cinemas
- https://hotcopper.com.au/data/announcements/ASX/2A1407612_EVT.pdf
- https://ratings.moodys.com/ratings-news/398077
- The entity profile for Vue Entertainment International Limited (obtainable from the Jersey Financial Services Commission Registry: https://www.jerseyfsc.org/registry/)
- The list of shareholders for Jubilee Topco Limited (obtainable from the Jersey Financial Services Commission Registry: https://www.jerseyfsc.org/registry/)