Thaddeus Investment announces the conclusion of an agreement aimed at reactivating the Recovery Platform Club Deal and advancing the settlement of the positions of the parties involved.
An initiative agreed with the Club Deal Steering Committee
The initiative follows a pre-existing situation in which the original commitments connected with the Club Deal had been undertaken by another company. That company did not complete the planned operational process, resulting in a standstill and the suspension of the related projects. Thaddeus Investment was not the original obligor of those commitments.
Thaddeus subsequently intervened in agreement and coordination with the Club Deal Steering Committee to identify a concrete solution, overcome the impasse and restore an operational path for the project.
The role of the counterparty
The counterparty has formally accepted the transaction and issued a notarized Pay Order providing for a payment in favour of Thaddeus Investment specifically designated for the Recovery Platform Club Deal.
The Pay Order sets out the payment mechanism for the initiative. Its implementation remains subject to the procedures and conditions established for the transaction.
Towards the settlement of the Club Deal positions
This development enables the project to proceed towards addressing and settling the positions of entitled parties, professionals, operators and Club Deal members, in accordance with the applicable procedures, conditions and timelines. No payment is described here as already received or distributed.
A new operational phase
Thaddeus Investment will continue to coordinate with the Club Deal Steering Committee and provide official updates as the subsequent operational stages progress and the planned procedures are completed.
Thaddeus Investment
Global Vision. Real Opportunities.