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Bankruptcy

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.

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.

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