CINEWORLD WKN: A0J2XW ISIN: GB00B15FWH70 Kürzel: CINE Forum: Aktien Thema: Hauptdiskussion

The Debtors’ Chapter 11 Cases Are Large and Complex. There is no question that the Debtors’ cases are large and complex. The Debtors operate the second-largest cinema chain in the world by number of screens, including a theater portfolio that spans the globe. Nor is there any question that the Debtors’ capital structure—which as of the Petition Date consisted of approximately $5 billion in funded debt obligations across numerous and varied loan types in addition to public equity, which continues to trade following the commencement of these chapter 11 cases—is large and complex. Finally, the Debtors have an array of active constituents, including, among others, the Committee and the Ad Hoc Term Loan Group, as well as each constituent’s agents, trustees, and advisors, in addition to numerous sophisticated contract and lease counterparties. Administering these chapter 11 cases requires significant input from the Debtors’ management team and advisors on a wide range of complicated matters necessary to bring structure and consensus to a large and complex process. The Debtors Have Made Significant Progress in Negotiating in Good Faith with Creditors and Administering These Chapter 11 Cases. Leading up to and since the Petition Date, the Debtors have made significant progress in negotiating with their stakeholders and administering these chapter 11 cases, which warrants an extension of the Exclusivity Periods. Specifically, among the other achievements listed herein, the Debtors obtained final approval of a $1.935 billion debtor-in- possession financing facility as well as the authority to sell certain non-essential real property. The Debtors have also addressed other matters related to these chapter 11 cases, including obtaining first-day and second-day relief to stabilize operations and ensure a smooth landing in chapter 11, filing schedules of assets and liabilities and statements of financial affairs, establishing claims bar dates, retaining section 327 and ordinary course professionals, establishing interim compensation procedures, and rejecting or moving to reject unnecessary or burdensome unexpired leases. • • • An Extension of the Exclusivity Periods Will Not Prejudice Creditors. The Debtors seek to maintain exclusivity so parties with competing interests do not hinder their efforts to finalize a value-maximizing restructuring. Extending the Exclusivity Periods will benefit all creditors by preventing the drain on time and resources that inevitably occurs when multiple parties, with potentially diverging interests, vie for the consideration of their own respective plans. All stakeholders benefit from the continued stability and predictability that a centralized process provides, which can only occur while the Debtors remain the sole potential plan proponents. Moreover, even if the Court approves an extension of the Exclusivity

The Debtors’ Chapter 11 Cases Are Large and Complex. There is no question that the Debtors’ cases are large and complex. The Debtors operate the second-largest cinema chain in the world by number of screens, including a theater portfolio that spans the globe. Nor is there any question that the Debtors’ capital structure—which as of the Petition Date consisted of approximately $5 billion in funded debt obligations across numerous and varied loan types in addition to public equity, which continues to trade following the commencement of these chapter 11 cases—is large and complex. Finally, the Debtors have an array of active constituents, including, among others, the Committee and the Ad Hoc Term Loan Group, as well as each constituent’s agents, trustees, and advisors, in addition to numerous sophisticated contract and lease counterparties. Administering these chapter 11 cases requires significant input from the Debtors’ management team and advisors on a wide range of complicated matters necessary to bring structure and consensus to a large and complex process. The Debtors Have Made Significant Progress in Negotiating in Good Faith with Creditors and Administering These Chapter 11 Cases. Leading up to and since the Petition Date, the Debtors have made significant progress in negotiating with their stakeholders and administering these chapter 11 cases, which warrants an extension of the Exclusivity Periods. Specifically, among the other achievements listed herein, the Debtors obtained final approval of a $1.935 billion debtor-in- possession financing facility as well as the authority to sell certain non-essential real property. The Debtors have also addressed other matters related to these chapter 11 cases, including obtaining first-day and second-day relief to stabilize operations and ensure a smooth landing in chapter 11, filing schedules of assets and liabilities and statements of financial affairs, establishing claims bar dates, retaining section 327 and ordinary course professionals, establishing interim compensation procedures, and rejecting or moving to reject unnecessary or burdensome unexpired leases. • • • An Extension of the Exclusivity Periods Will Not Prejudice Creditors. The Debtors seek to maintain exclusivity so parties with competing interests do not hinder their efforts to finalize a value-maximizing restructuring. Extending the Exclusivity Periods will benefit all creditors by preventing the drain on time and resources that inevitably occurs when multiple parties, with potentially diverging interests, vie for the consideration of their own respective plans. All stakeholders benefit from the continued stability and predictability that a centralized process provides, which can only occur while the Debtors remain the sole potential plan proponents. Moreover, even if the Court approves an extension of the Exclusivity

Da war ich jetzt zu langsam 😆