We advised an ad hoc group of lenders in connection with a secured prepetition facility in Cineworld’s chapter 11 proceedings

Davis Polk advised an ad hoc group of lenders to Cineworld Group plc (together with its subsidiaries, “Cineworld”) in connection with Cineworld’s approximately $855 million prepetition priming term loan in Cineworld’s chapter 11 proceedings. On October 31, 2022, the U.S. Bankruptcy Court for the Southern District of Texas entered an order approving the post-petition facility on a final basis and authorizing the release of funds to pay the prepetition priming facility obligations in full, including accrued and unpaid interest and make-whole premiums.

Cineworld Group is the second largest cinema chain in the world. Cineworld currently operates in the United Kingdom, Ireland, Poland, the Czech Republic, Slovakia, Hungary, Bulgaria, Romania, Israel and the United States.

The Davis Polk restructuring team included partners Brian M. Resnick and Adam L. Shpeen, counsel Christian Fischer and associates Stephanie Massman and Stella Li. All members of the Davis Polk team are based in the New York office.

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