Garrett Shareholders Ask To File Competing Ch. 11 Plan

Law360 (January 26, 2021, 5:08 PM EST) -- A group of shareholders of Garrett Motion Inc. asked a New York bankruptcy judge to end the debtor's exclusive right to pursue a Chapter 11 plan and offered up a plan of their own that they say provides more value to existing equity holders.

In its motion, the official committee of equity securities holders said Garrett's currently filed plan seeks to transfer more than $1 billion of value to a group of private equity investors holding a slim majority of the debtor's shares, leaving a group of smaller investors — currently holding about 42% of the equity — with severely diluted...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!