ATTENTION DIRECT AND INDIRECT HOLDERS OF SECURITIES ISSUED BY HOLDCO NUVO GROUP D.G LTD.: The United States Bankruptcy Court for the District of Delaware has entered an order that imposes substantial restrictions on trading in equity interests in Holdco Nuvo Group D.G Ltd. and affiliates
The United States Bankruptcy Court for the District of Delaware has issued an order imposing substantial restrictions on trading in equity interests of Holdco Nuvo Group D.G and its affiliates. This order is part of a bankruptcy proceeding for the company, with case number 24-11880 (MFW). Shareholders and potential investors are advised to review the full order, available at http://dm.epiq11.com/NuvoGroup. For inquiries, stakeholders can contact the proposed claims and noticing agent, Epiq Corporate Restructuring, , or the proposed counsel for Debtors, Hughes Hubbard & Reed LLP and Morris, Nichols, Arsht & Tunnell LLP. This development significantly impacts the tradability of NUVO stock and may have important implications for current and prospective shareholders.
Il Tribunale fallimentare degli Stati Uniti per il Distretto del Delaware ha emesso un'ordinanza che impone restrizioni significative al commercio degli interessi azionari di Holdco Nuvo Group D.G e delle sue affiliate. Questa ordinanza è parte di un procedimento fallimentare per l'azienda, con numero di causa 24-11880 (MFW). I soci e i potenziali investitori sono invitati a esaminare l'ordinanza completa, disponibile su http://dm.epiq11.com/NuvoGroup. Per domande, le parti interessate possono contattare l'agente proposto per le richieste e le notifiche, Epiq Corporate Restructuring, o gli avvocati proposti per i Debitori, Hughes Hubbard & Reed LLP e Morris, Nichols, Arsht & Tunnell LLP. Questo sviluppo influisce significativamente sulla commerciabilità delle azioni NUVO e potrebbe avere importanti implicazioni per gli attuali e futuri azionisti.
El Tribunal de Quiebras de los Estados Unidos para el Distrito de Delaware ha emitido una orden que impone restricciones sustanciales en el comercio de intereses de capital de Holdco Nuvo Group D.G y sus afiliados. Esta orden es parte de un procedimiento de quiebra para la empresa, con número de caso 24-11880 (MFW). Los accionistas y posibles inversores son aconsejados a revisar la orden completa, disponible en http://dm.epiq11.com/NuvoGroup. Para consultas, los interesados pueden contactar al agente propuesto para reclamos y notificaciones, Epiq Corporate Restructuring, o a los abogados propuestos para los Deudores, Hughes Hubbard & Reed LLP y Morris, Nichols, Arsht & Tunnell LLP. Este desarrollo impacta significativamente la comerciabilidad de las acciones de NUVO y puede tener importantes implicaciones para los actuales y futuros accionistas.
델라웨어 지방법원 파산법원은 Holdco Nuvo Group D.G 및 그 계열사의 주식 거래에 대한 상당한 제한을 부과하는 명령을 내렸습니다. 이 명령은 회사의 파산 절차의 일환으로, 사건 번호는 24-11880 (MFW)입니다. 주주 및 잠재 투자자는 http://dm.epiq11.com/NuvoGroup에서 확인할 수 있는 전체 명령을 검토할 것을 권장합니다. 문의 사항은 제안된 청구 및 통지 에이전트인 Epiq Corporate Restructuring 또는 채무자에 대한 제안된 법률 자문인 Hughes Hubbard & Reed LLP 및 Morris, Nichols, Arsht & Tunnell LLP에 연락할 수 있습니다. 이 개발은 NUVO 주식의 거래 가능성에 중대한 영향을 미치며 현재 및 미래의 주주에게 중요한 의미를 가질 수 있습니다.
Le Tribunal américain des faillites pour le District du Delaware a émis une ordonnance imposant des restrictions substantielles sur le commerce des intérêts en actions de Holdco Nuvo Group D.G et de ses filiales. Cette ordonnance fait partie d'une procédure de faillite pour l'entreprise, avec le numéro de dossier 24-11880 (MFW). Les actionnaires et investisseurs potentiels sont invités à consulter l'ordonnance complète, disponible à l'adresse http://dm.epiq11.com/NuvoGroup. Pour toute question, les parties prenantes peuvent contacter l'agent proposé pour les réclamations et notifications, Epiq Corporate Restructuring, ou les avocats proposés pour les débiteurs, Hughes Hubbard & Reed LLP et Morris, Nichols, Arsht & Tunnell LLP. Ce développement a un impact significatif sur la négociabilité des actions NUVO et pourrait avoir des implications importantes pour les actionnaires actuels et futurs.
Das Insolvenzgericht der Vereinigten Staaten für den Bezirk Delaware hat eine Anordnung erlassen, die erhebliche Einschränkungen für den Handel mit Eigenkapitalanteilen von Holdco Nuvo Group D.G und deren Tochtergesellschaften auferlegt. Diese Anordnung ist Teil eines Insolvenzverfahrens für das Unternehmen mit der Aktennummer 24-11880 (MFW). Aktionäre und potenzielle Investoren werden aufgefordert, die vollständige Anordnung zu prüfen, die unter http://dm.epiq11.com/NuvoGroup verfügbar ist. Bei Anfragen können Stakeholder den vorgeschlagenen Anspruchs- und Benachrichtigungsagenten Epiq Corporate Restructuring oder die vorgeschlagenen Berater für die Schuldner, Hughes Hubbard & Reed LLP und Morris, Nichols, Arsht & Tunnell LLP, kontaktieren. Diese Entwicklung hat erhebliche Auswirkungen auf die Handelbarkeit der NUVO-Aktien und könnte wichtige Konsequenzen für aktuelle und zukünftige Aktionäre haben.
- None.
- Bankruptcy proceedings initiated (Case number 24-11880)
- Substantial restrictions imposed on equity trading
- Potential negative impact on stock liquidity and value
Insights
The bankruptcy court's order imposing substantial restrictions on trading in Holdco Nuvo Group D.G 's equity interests is a significant development. This move is typically made to prevent insider trading and maintain fairness in the market during bankruptcy proceedings. For shareholders, this means liquidity and potential difficulties in selling their holdings.
The appointment of Epiq Corporate Restructuring as the claims and noticing agent suggests the company is preparing for a complex restructuring process. Investors should be aware that in bankruptcy cases, equity holders often face significant losses or complete wiping out of their investments. The involvement of high-profile law firms like Hughes Hubbard & Reed and Morris, Nichols, Arsht & Tunnell indicates the complexity of the case and potential for protracted legal proceedings.
This bankruptcy filing and trading restrictions signal severe financial distress for Holdco Nuvo Group D.G The company's equity value is likely to be highly volatile and speculative at this point. Typically, in Chapter 11 bankruptcies, common shareholders are last in line for any recovery, after creditors and bondholders are paid.
Investors should be extremely cautious. The trading restrictions may lead to increased bid-ask spreads and reduced market depth, making it challenging to execute trades at favorable prices. Moreover, the bankruptcy process could result in a significant dilution of existing shareholders' stakes or a complete loss of value. It's important for stakeholders to closely monitor court proceedings and any restructuring plans that emerge.
WILMINGTON, Del., Sept. 04, 2024 (GLOBE NEWSWIRE) -- Holdco Nuvo Group D.G Ltd. has issued the following announcement related to trading in equity interests in the Company:
The United States Bankruptcy Court for the District of Delaware has entered an order that imposes substantial restrictions on trading in equity interests in Holdco Nuvo Group D.G Ltd. and affiliates. A copy of the order may be found at the following internet address: http://dm.epiq11.com/NuvoGroup; questions regarding the order may be directed to proposed claims and noticing agent Epiq Corporate Restructuring, LLC or proposed counsel for Debtors, Hughes Hubbard & Reed LLP, One Battery Park Plaza, New York, New York 10004 (Attn: Kathryn A. Coleman, Esq. (katie.coleman@hugheshubbard.com) & Christopher Gartman, Esq. (chris.gartman@hugheshubbard.com)); and Morris, Nichols, Arsht & Tunnell LLP, 1201 North Market Street, Sixteenth Floor, Wilmington, Delaware 19801 (Attn: Derek C. Abbott, Esq. (dabbott@morrisnichols.com) and Curtis S. Miller, Esq. (cmiller@morrisnichols.com)). The case number for the bankruptcy action is 24-11880 (MFW).
BY ORDER OF THE COURT
FAQ
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