Adler - comment

Today is the big day. Fresh lines to be drawn to repay the 23s tomorrow ahead of deadline the day after. We understand the challenge in Frankfurt is still ongoing, but UK High Court Judge Tomas Leech yesterday refused the AHG’s request for appeal and we struggle to see a way to undo these events now. As we said before, this plan isn’t flawless, but no plan would be and with the support it received it was always a “sitter".