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Hertz Celebrates Chapter 11 Exit, Looks Forward

Hertz Celebrates Chapter 11 Exit, Looks Forward

Hertz is in the process of paying out $19 billion to its creditors while reducing corporate debt by nearly 80%. Stock shares will continue to be publicly traded on the over-the-counter market.

July 1, 2021

Hertz's Reorganization Plan Ok’d by Bankruptcy Court
Stockholders Claim Victory in Hertz Bankruptcy Auction
Hertz Proposes Shareholder Recovery to Exit Bankruptcy
Knighthead, Certares Return with New Counteroffer for Hertz
Hertz Selects Centerbridge Partners as Equity Sponsor for Chapter 11 Exit
Hertz Gets $4.2B Purchase Bid in Plan to Exit Bankruptcy

Hertz Gets $4.2B Purchase Bid in Plan to Exit Bankruptcy

The buyers, Knighthead Capital Management and Certares Management, would take at least a majority share and as much as 100% of the company. The proposed plan would pay in full all of Hertz's existing first- and second-lien debt and provide a 70% cash recovery to general unsecured creditors.

March 2, 2021

Hertz Posts Net Loss of $1.7B in 2020
Hertz Delisted from NYSE: What Does it Mean?
Hertz Obtains $1.65B in Debtor-In-Possession Financing
Hertz May sell Donlen to Pay Debt, Bloomberg Reports

Hertz May sell Donlen to Pay Debt, Bloomberg Reports

Hertz Global Holdings has considered selling it’s Donlen leasing business if it can get at least $1 billion and has several buyers interested in the fleet management company, chiefly private equity funds, according to a report from Bloomberg.

September 1, 2020

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