Garrett Motion Inc. – Equity Committee Looks to Terminate Debtors’ Plan Exclusivity; Would File Competing Plan Supported by “Highly Confident” Financing to Avoid $1.1bn Transfer of Value to Centerbridge/Oaktree/Honeywell Group
January 26, 2021 – The Debtors' Official Committee of Equity Securities Holders (the “Equity Committee”) has filed a motion requesting termination of the Debtors’ Plan exclusivity periods so that they could be in position to file a competing Plan. On January 22, 2021, the Debtors filed an Amended Chapter 11 Plan which abruptly shifted from…