A compromise has been reached in a dispute over a $3 million payment from SAS to the winning bidders of the airline. The payment will not be made immediately but will be postponed until the final investment agreement is ready.
During the New York court hearing, lawyers for the winning bidders, including Air France-KLM, indicated that they are working to finalise the investment deal by the end of the week. The bid losers, Apollo Global, and the United States Trustee, a government body overseeing creditors’ interests in bankruptcies, had objected to the rapid payment. The compromise avoids an immediate resolution to the payment issue, allowing more time for review and approval.
This post was published on 12 October 2023 21:41
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