UK court approves German property group Adler's restructuring plan

Adler SA

12/04/2023 10:32

LONDON, April 12 (Reuters) - Adler Group SA's  ADJ.DE 
restructuring plan to prevent the embattled German property
firm's imminent collapse was approved by London's High Court on
Wednesday, despite opposition from some bondholders.
    Judge Thomas Leech sanctioned the plan following a hearing
last week, at which lawyers representing Adler's English
subsidiary said the group was likely to enter insolvency
proceedings at the end of April if the plan was not approved.

 (Reporting by Sam Tobin; editing by Paul Sandle)
 ((Sam.Tobin@thomsonreuters.com;))