Case Background

On December 11, 2017, Global Brokerage, Inc. (the "Debtor") filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The case is pending before the Honorable Michael E. Wiles.

On November 8, 2017, Global Brokerage, Inc. commenced solicitation of the Debtors' Joint Chapter 11 Plan of Reorganization. The Effective Date of the Plan occurred on February 8, 2018 and, as a result, the Plan has been substantially consummated. A copy of the Notice of Effective Date can be found by clicking on the following link.

Important Information & Dates

Hearing on First Day Motions

A hearing on the Debtors' First Day Motions was held on December 13, 2017 at 3:00 p.m. (ET) before the Honorable Michael E. Wiles, United States Bankruptcy Court for the Southern District of New York, One Bowling Green, Room 617, New York, NY 10004.  A final hearing on certain of the First Day Motions was held on January 17, 2018, at 2:00 p.m. (ET). Please click below to view and download the Debtors' First Day Motions and First Day Orders:

First Day Motions

First Day Orders

 

Hearing on Adequacy of the Disclosure Statement, Solicitation Procedures and Confirmation of the Prepackaged Plan

The Combined Hearing to consider, among other things, the adequacy of the Disclosure Statement and confirmation of the Prepackaged Plan, was held on January 17, 2018 at 2:00 p.m. (Eastern Time). On February 8, 2018, the Effective Date of the Plan occurred, and the Plan was consummated.

The Notice of Commencement, including a summary of the proposed Joint Prepackaged Chapter 11 Plan of Reorganization (the "Plan"), is available here.

Please click below to view and download the Debtors' proposed Plan and proposed Disclosure Statement for the Plan:

Plan and Disclosure Statement

 

Important Information Regarding Restrictions on Certain Transfers of Common Stock Issued By Global Brokerage, Inc.

By order dated December 14, 2017 (the “NOL Order”), the United States Bankruptcy Court for the Southern District of New York approved certain restrictions and procedures (the “Procedures”) applicable to transfers of common stock issued by Global Brokerage, Inc. (“Global Brokerage”).

These Procedures restrict transfers involving, and require notices of the holdings of and proposed transactions by, any person or group or persons that is or, as a result of such transaction, would become a Substantial Stockholder of common stock issued by Global Brokerage.  For purposes of the Procedures, a “Substantial Stockholder” is any person or entity (within the meaning of applicable U.S. Treasury regulations, including certain persons making a coordinated acquisition) that beneficially owns, directly or indirectly, at least 370,998 shares of any class of such common stock (representing approximately 4.5% of all issued and outstanding common shares).

A direct or indirect holder of stock issued by Global Brokerage that may be or become a Substantial Stockholder should consult the Procedures.

The NOL Order, including the Procedures, is available here.

Dates

December
11

Petition Date

______
February
8

Effective Date

_____
July
17

Hearing on Final Decree ...

10:00 a.m. (ET)
November
8
______

Voting Record Date

December
4
5:00 p.m. (ET)

Voting Deadline

December
11
______

Parties

Debtor's Counsel

King & Spalding LLP

1185 Avenue of the Americas
New York, NY   10036
Phone: 212.556.2100
Fax: 212.556.2222
Arthur J. Steinberg, Esq.
Michael R. Handler, Esq.

King & Spalding LLP

1180 Peachtree Street N.E.
Atlanta, GA   30309
https://www.kslaw.com/
Phone: 404.572.4600
Fax: 404.572.5100
Sarah R. Borders, Esq.
Thaddeus D. Wilson, Esq.
Elizabeth T. Dechant, Esq.

United States Trustee and Court Information

Office of the United States Trustee

U.S. Federal Office Building
201 Varick Street, Suite 1006
New York, NY   10014
http://www.usdoj.gov/ust/r02
Phone: 212.510.0500
Fax: 212.668.2255
Attn: Greg M. Zipes

United States Bankruptcy Court

Southern District of New York
One Bowling Green
New York, NY   10004-1408
http://www.nysb.uscourts.gov/
Phone: 212.668.2870


Debtor

Case Number
Debtor Name
Petition Date
17-13532 Global Brokerage, Inc. December 11, 2017