The results of yesterday’s Watershed Meeting are now available. At almost unanimity, the creditors decided to keep the two directors in place to carry out the rescue plan. They voted for the new Deed of Company Arrangement.
It should be noted that the creditors were divided into three categories. Group A included those who lease aircrafts. All creditors voted for the adoption of the Deed og Company Arrangement. Same for Group B, which included those linked to the funds.
In Group C, 81.7% of the creditors in this category voted for the adoption of the rescue plan. 17.8% opted for the end of the voluntary administration. Finally, 0.4% opted for the liquidation of Air Mauritius.
Now that the creditors have decided, the two administrators have 21 days to implement the rescue plan. They will be now called Deed Administrators and will continue to temporarily manage the national airline.
They will leave Air Mauritius in the hands of the Board of Directors once the plan is fully implemented.
As for the creditors, those in group A will for the time being receive 35% of their claims. Those in group B will receive 60% of their claims. Finally, creditors in group C will get 50%.
