La Seda´s Scheme of Arrangement. From Debtwire.

La Seda’s Scheme of Arrangement process kicked-off today; single lender class meeting on 21 MayAn open court hearing for La Seda de Barcelona’s Scheme of Arrangement took place this morning (30 April) at the English High Court. Presiding Judge Justice Newey gave his endorsement to implement a debt restructuring via a UK Scheme of Arrangement, subject to approval from 75% of lenders, after that the company’s counsel, instructed by Freshfields – legal representatives to the Spanish petrochemicals derivatives group – briefly outlined the plan.