Hertz Gets OK For Ch. 11 Plan Providing $1B To Stockholders

Law360 (June 10, 2021, 4:40 PM EDT) -- Car rental giant Hertz Global on Thursday gained approval for a Chapter 11 plan of reorganization returning $1 billion of value to shareholders, which a Delaware bankruptcy judge called "a remarkable result" about a year after the company had been staring down the edge of a liquidation cliff.

During a virtual confirmation hearing, debtor attorney Thomas Lauria of White & Case LLP said that when Hertz entered bankruptcy in May 2020 it was facing serious challenges that threatened the future of the company.

"Just over one year ago, Hertz entered Chapter 11 struggling under numerous daunting burdens brought on by the...

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!