The decide who oversaw Hertz International Holdings Inc.’s chapter 11 restructuring trimmed bondholders’ requests for early compensation premiums and curiosity funds, saying that some claims aren’t payable beneath U.S. chapter legislation or the corporate’s debt contracts.
Decide Mary Walrath of the U.S. Chapter Courtroom in Wilmington, Del., mentioned Hertz’s unsecured bondholders weren’t entitled to gather curiosity funds on the contractual fee following the rental-car firm’s chapter submitting final yr. The decide additionally absolved Hertz of any obligation to make premium funds on bonds that have been scheduled to come back due in 2022 and 2024 to compensate for the early retirement of these money owed.