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In March, NFE announced that it had entered into a restructuring support agreement with its creditors as part of a consensual UK restructuring plan. NFE will also separate its Brazilian operations into an independent, standalone energy platform.
NFE announced on Thursday that the plan had been approved at a hearing in the High Court of Justice of England and Wales, where its subsidiaries, NFE Global and NFE Brazil Newco were granted an order sanctioning the UK RP, which are two inter-conditional restructuring plans proposed by each of the companies.
According to NFE, the sanction order will shortly be filed with the registrar of companies and the UK RP will become effective in accordance with its terms.
NFE said that creditors showed “overwhelming support for the UK RP at the meetings of plan creditors convened earlier this week on June 15, with 99 percent of plan creditors voting in favor of the UK RP and unanimous consent obtained in nearly all classes of plan creditors.”
The firm noted that a hearing before the United States Bankruptcy Court of the Southern District of New York to confirm the recognition of the UK RP will be held on June 26, 2026.
NFE added that the transactions contemplated by the UK RP are expected to be implemented by the third quarter of 2026, subject to the satisfaction of customary conditions and regulatory approvals.