Towergate's creditors reach binding agreement
Joint agreement endorsed by over 75% of secured and unsecured creditors.
Towergate has announced that the joint agreement enabling the takeover of the company has secured binding agreement from over 75% of both senior secured and senior unsecured creditors by value.
The consolidator said this surpasses an important threshold required for creditors to approve the terms of the deal.
The transaction is subject to regulatory approval and is expected to be complete before the end of March.
Manoueuvre
Towergate's unsecured creditors manouevred to take over the business on 6
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