The Hertz Corporation

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Case overview

Case Number:

1:20-bk-11218

Court:

Delaware

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

May 14, 2021
Hertz Swaps In New $6B Ch. 11 Plan Sponsor Package

Hertz Global Holdings coasted through a nearly uneventful, fist-pumping pitch for a new $6 billion Chapter 11 plan sponsor agreement in Delaware bankruptcy court on Friday, securing approval to move ahead with revised numbers and disclosures under a proposal that would cover in full all creditor claims.
May 12, 2021
Hertz Ch. 11 Auction Ends With $6B Knighthead Winning Bid

Bankrupt car rental giant Hertz Global Holdings announced Wednesday that an investment group led by Knighthead Capital Management and Certares Opportunities won a Chapter 11 auction to fund the debtor's reorganization, ending a weekslong competition among eager funding sources.
May 05, 2021
Hertz Says New Ch. 11 Sponsor Bid Tops Centerbridge Deal

Bankrupt car rental giant Hertz Global announced Wednesday that a competing bid from a prospective sponsor for its Chapter 11 plan beat the existing deal the company has with a group of sponsors led by Centerbridge Partners, triggering a potential auction if Centerbridge decides to counter the offer.
May 04, 2021
Hertz Confirms New Sponsor Offer In Seesaw Del. Ch. 11

Hertz Global confirmed early Tuesday receipt of a sweetened sponsorship offer from the original plan backers for the bankrupt rental giant's Chapter 11, potentially setting up a final three-day deadline for a topping offer by the current leader and a potential auction on May 10.
April 28, 2021
Hertz Cleared For New Ch. 11 Plan Sponsor Auction Schedule

Car rental giant Hertz Global received permission Wednesday from a Delaware bankruptcy court for its last-ditch plan to solicit a topping bid on its Chapter 11 plan sponsorship deal that could trigger a competitive auction by mid-May.
April 26, 2021
Hertz Gives Competing Ch. 11 Sponsor A Week For New Offer

Bankrupt car rental giant Hertz Global asked a Delaware judge Monday for approval of a timetable under which a competing equity sponsor group can submit a new proposal challenging the current Chapter 11 plan while still allowing Hertz to move toward a June confirmation date.
April 21, 2021
Hertz Gets OK For Creditor Vote On Ch. 11 Plan

A Delaware bankruptcy judge Wednesday declined to give potential alternative equity backers of Hertz Global's Chapter 11 plan more time to finalize their proposal, instead giving the car rental giant the go-ahead to send its restructuring plan out for a creditor vote.
April 16, 2021
Hertz Ch. 11 Bidding War Reignites On Eve Of Disclosure OK

The original equity sponsor for the Chapter 11 plan of car rental giant Hertz Global reemerged as a bidder to underwrite a multibillion-dollar financial restructuring of the company, leading a Delaware bankruptcy judge Friday to delay a hearing on the debtor's plan disclosure statement.
April 15, 2021
Hertz Defends Ch. 11 Plan, Says Exit Needed By Summer

Warning that it needs to hit the gas soon on its Chapter 11 plan to get the benefit of "hot" debt and equity markets and the approaching summer travel season, The Hertz Corp. urged a Delaware bankruptcy judge Thursday to reject current disclosure and financing objections.

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