NEW YORK , Sept. The Rejecting Noteholders Group of Global Aandamp;T ("The Rejecting Noteholders," also known as the "Dechert Group"), has executed an agreement opposing Global Aandamp;T's restructuring proposal, thereby blocking the Company's ability to gain the necessary noteholder approval for its proposal, which is 1/3 of noteholder support, from the Company's 10% Senior Secured Notes due in 2019. Media reports had indicated Global Aandamp;T intended to commence a consent solicitation for its restructuring proposal, but based on the formal opposition of the Rejecting Noteholders, such a solicitation would not garner the requisite Noteholder support and would therefore fail. Click here for more.
from Cellular News http://bit.ly/2yHRRa8
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