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Plaza Centers NV completes debt restructuring and emerges from reorganization proceedings

Monday, 21 Jul 2014 05:00am EDT 

Plaza Centers NV:Says on July 21 that, following the Dutch Court approving the Dutch restructuring plan on July 9, the decision of the Court has become irrevocable and, as a result, the date of July 18 is the Effective Date as defined in the Plan on which the Plan becomes binding and effective.As a consequence of the confirmation decision becoming final, the suspension of payment proceedings, which commenced on Nov. 18, 2013, has come to an end on July 21 and the company has successfully emerged from the reorganization proceedings.Accordingly, the administrator appointed by the Court to manage the affairs of the company alongside the existing management is no longer in office and Plaza‚Äôs management has resumed full control of the business. 

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