The Stockholm District Court approved SAS's restructuring plan

19 July 2024, the Stockholm District Court approved SAS's restructuring plan.

DLA Piper in Sweden, Norway and Denmark represent the class of unsecured creditors in the Chapter 11 proceeding concerning the airline SAS in the U.S. The Swedish company reorganization proceeding was specifically contemplated by the Chapter 11 proceedings in the U.S., and a successful completion of the Swedish company reorganization proceeding is a condition precedent for the Chapter 11 plan to become effective.

The recovery to general unsecured creditors will be distributed in cash and/or new unlisted shares as well as through contingent value notes that may, under certain conditions, entitle such general unsecured creditors to an additional cash distribution in the future. SAS expects to emerge from its restructuring proceedings during August 2024.

For more details, visit SAS's official announcement.