A former unit of Irish glass and metal packaging supplier Ardagh Group SA sought US bankruptcy court recognition of its foreign restructuring and a pause of a creditor’s $251 million lawsuit in New York.
ARD Finance SA’s Luxembourg insolvency plan aims to restructure a series of senior secured notes worth about 860 million euros ($1 billion) and another worth $986 million as part of a debt-for-equity swap that would transfer ownership of the reorganized company to noteholders, the company told the US Bankruptcy Court for the Southern District of New York in court filings Sunday.
ARD Finance historically served as ...