Negotiations are underway to finalize a major restructuring plan, with two potential pathways emerging to secure approval. The first involves a court-approved Chapter 11 sale process, allowing for a structured liquidation or asset transfer under judicial oversight. Alternatively, the deal could proceed through a shareholder vote, requiring direct approval from investors to move forward. Both methods carry distinct legal and procedural implications, shaping how the restructuring could unfold.
Discussions center around a deal that would be executed through a court-supervised Chapter 11 sale process or via a shareholder vote.
