Azul revises version of reorganisation plan under Chapter 11 proceedings
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Background ✨
Azul secured support from the Official Committee of Unsecured Creditors and an ad hoc group of secured noteholders for its reorganisation plan, offering general unsecured creditors a choice between a cash share of up to USD20 million or interests in a trust with warrants and potential contingent payments. The agreement also included provisions for a convenience class and funding of administrative expenses related to the trust1.