Global Brokerage, Inc. Receives Approximately 78.5% Yes Votes to Move Forward with the Prepackaged Plan of Reorganization
GLOBAL BROKERAGE INC A (GLBR)
US:NASDAQ Investor Relations:
ir.globalbrokerage.info
Company Research
Source: GlobeNewswire
NEW YORK, Dec. 11, 2017 (GLOBE NEWSWIRE) -- Global Brokerage, Inc. (NASDAQ:GLBR) (“Global Brokerage”), announced today that, after receiving votes from approximately 78.5% of the holders of its 2.25% Convertible Notes due 2018 (the “Current Notes”) unanimously approving its proposed, prepackaged plan of reorganization (the “Plan”), Global Brokerage has filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The bankruptcy case is expected to take no longer than sixty days. All voting creditors voted in favor of the Plan. As announced on November 10, 2017, Global Brokerage and its affiliate, Global Brokerage Holdings, LLC (“Global Brokerage Holdings”), an ad hoc group of holders of more than 68.5% of the Current Notes, FXCM Group, LLC (“FXCM Group” or “FXCM”) and Leucadia National Corporation and LUK-FX Holdings, LLC entered into a restructuring support agreement (the “RSA”) to
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