Branicks - comment

The Amend and Extend operation for the Sep 2026 SUNs will start immediately after the Branicks/VIB control and profit agreement is approved (12/13 February 2026). Confirmation of the advisors allows the groundwork to start now. A consensual process under StaRug is likely to be supported by most creditors, as a liquidation would likely impose much higher losses.

We are reading reports that Branicks has appointed Rothschild and Linklaters as advisors. The same report cites that bondholders are advised by Houlihan Lokey and Millbank, with Teneo advising promissory note holders.