The court granted final U.S. recognition and enforcement of Gamida Cell’s Israeli debt arrangement, giving the Israeli confirmation order full force in the United States and binding the company’s creditors, shareholders, and implementation parties. The Final Order enforcing the debt arrangement authorizes the restructuring mechanics that matter for U.S. stakeholders: 100% of the outstanding 2026 senior notes are converted into 100% of the equity of the debtor or an affiliate, the notes and indenture are cancelled except for limited trustee functions, and contingent value rights issued under the arrangement receive a Bankruptcy Code section 1145 securities-registration exemption.

The order also imposes U.S. protections around implementation. It permanently enjoins actions against Gamida Cell, foreign representative Abigail Jenkins, and authorized representatives that would interfere with the Israeli proceeding or debt arrangement, while preserving limited rights such as the senior notes trustee’s charging lien against noteholder distributions. For restructuring professionals, this is the case’s operative cross-border milestone: the Chapter 15 proceeding has moved from recognition request to U.S.-enforceable implementation of the foreign plan economics.