-
Global Brokerage receives 79% yes votes to move forward with reorganization
Global Brokerage, Inc. (NASDAQ:GLBR), formerly known as FXCM Inc, announced that, after receiving votes from approximately 78.5% of the holders of its 2.25% Convertible Notes due 2018 (the “Current Notes”) unanimously approving its proposed, prepackaged plan of reorganization (the “Plan”), Global Brokerage has filed a voluntary petition for reorganization under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. The bankruptcy case is expected to take no longer than sixty days. All voting creditors voted in favor of the Plan. As announced on November ... (full story)