Unsecured creditors complete Towergate takeover
Deal finalised on 2 April.
Towergate's restructuring which involved parallel moves in the UK and US completed on 2 April.
At the end of March, the consolidator announced that a scheme of arrangement was sanctioned in the High Court while Chapter 15 recognition was obtained from the US Bankruptcy Court.
The process has now been implemented around the £1.05bn debt and the acquisition by senior unsecured bondholders.
The troubled consolidator put itself up for sale in November last year.
The following February the broker
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