RE: Just come across this from 2 days ago4 Feb 2022 15:08
Cineworld is expected to skirt bankruptcy for the second time in two years, say lenders, despite the UK cinema group facing an almost $1bn payout that exceeds its market value for pulling out of a deal to buy Canadian rival Cineplex.
The world’s second largest cinema operator has appealed the court awarded damages, but investors in Cineworld’s debt expect the two companies to strike a deal for a significantly lower amount even if unsuccessful.
That is because if Cineworld were pushed into bankruptcy by the damages, Cineplex would be near the back of the queue of creditors to be paid, multiple lenders told the Financial Times.