With the Paris Olympics a few months away, booking a hotel in the French capital may as well be a competitive sport. Thankfully, the editors of Forbes Travel Guide have eased some of the preparation by revealing the 30 best hotels in Paris. From five-star grande dame properties, to chic boutiques, here’s where to stay in the City of Light.
SAS AB applies for company reorganization in Sweden
03.04.2024 - 12:20 / traveldailynews.com / Theodore Koumelis / Airlines
SAS will continue to serve its customers in the ordinary course throughout this process.
SAS AB announces that it has applied for company reorganization (Sw. företagsrekonstruktion) in Sweden. The opening of the proceeding is subject to approval by the Stockholm District Court. The application is made only in relation to the listed parent company of the SAS Group, SAS AB, and not any subsidiaries or the airline as such. SAS’ operations and flight schedule will remain unaffected by the reorganization proceeding.
On March 19, 2024, the U.S. Bankruptcy Court for the Southern District of New York confirmed SAS’ chapter 11 plan of reorganization. Application for company reorganization in Sweden was specifically contemplated by the Chapter 11 Plan and a successful completion of the Swedish reorganization proceeding is a condition for the Chapter 11 Plan to become effective. The effectiveness of the Chapter 11 Plan also remains subject to approvals from various regulatory authorities and certain other customary conditions precedent. SAS currently expects to emerge from its restructuring proceedings around the end of the first half of 2024.
Weil, Gotshal & Manges LLP is serving as global legal counsel and Mannheimer Swartling Advokatbyrå AB is serving as Swedish legal counsel to SAS. Seabury Securities LLC and Skandinaviska Enskilda Banken AB are serving as investment bankers, and Seabury Securities LLC is also serving as restructuring advisor to SAS.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
The website maxtravelz.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
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