Court confirms Gamida Cell’s prepackaged plan
Gamida Cell cleared its prepackaged restructuring nine days after filing. The May 22 agenda listed only the chapter 11 plan going forward, with no responses received by the May 20 deadline, and the court then approved the disclosure statement and confirmed the amended plan the same day through the confirmation order. The plan became effective on May 24, according to Gamida’s effective date notice.
The confirmed plan funded emergence with a $49.4 million senior first-lien exit facility and implemented the core balance-sheet trade: Class 3 senior secured loan claims of about $4.4 million receive exit-facility loans dollar-for-dollar, while Class 4 unsecured notes claims of $75.0 million receive new common equity under the amended prepackaged plan. General unsecured claims remain unimpaired, and existing equity is cancelled with no recovery.