$HTZ Take some time to read the documentation issued here : restructuring.primeclerk.co... In my view, the process is not as bad as the worst case scenario on here. The emphasis Hertz repeatedly make is that the international operations are NOT included in the Chapter 11 and all brands will remain open and operational. It seems to me that there were either stubborn creditors at the final meeting or the picture going forward is truly so foggy that a reasonable agreement could not, at this stage, be decided with the best intentions of all parties. There are bascially too many unmanageable moving variables to juggle that a definitive path could not be set in concrete. I am quite certain that all parties wish for an agreement to be in place but what shape and form that would take is not possible to undertake at this time. The protection process is a formality in light of the current Covid uncertainty, as well as creditor deadlines, with a strong intent and view to upift the business.
  • 2