The US District Court for the Southern District of New York invalidated the portion of the company’s restructuring plan in that country related to so-called “third-party issuances,” the airline Gol reported.
The company stated in a statement to the market sent on Wednesday (3), that this decision does not affect the company’s “successful exit from the Chapter 11 process,” which took place on June 6.
Juul also said that he may or may not appeal this decision made after an appeal by the Office of the United States Trustee (OUST).
“It is important to note that Juul has already completed all of the restructuring transactions contemplated in the plan, and that its operations and business are completely unaffected by the District Court’s decision,” the airline announced.
The so-called “third party releases” relate to the release of certain claims from Juul’s creditors and stakeholders that could have been brought against other creditors and stakeholders.