US energy developer, New Fortress Energy’s (NFE) UK restructuring plan (RP) has been approved at a hearing in the High Court of Justice of England and Wales.
The plan companies were granted an order sanctioning the UK RP, which are two inter-conditional restructuring plans proposed by each of the companies.
A sanction order will shortly be filed with the Registrar of Companies and the UK RP will become effective in accordance with its terms.
The RP concerns its subsidiaries, NFE Global Holdings and NFE Brazil Newco, and certain of NFE RP creditors.
Creditors showed overwhelming support for the UK RP with 99% of voting in favour of the plan and unanimous consent obtained in nearly all classes of plan creditors, NFE claimed.
A hearing before the US Bankruptcy Court of the Southern District of New York to confirm the recognition of the UK RP will be held on 26th June, 2026.
The UK RP transactions are expected to be implemented by the third quarter of this year, subject to the satisfaction of customary conditions and regulatory approvals.
