NEW YORK, 20 December 2021 / CNW / – Stoneway Capital Corporation (“Stone path, “and with its subsidiaries and parent entities, the”Society“) and six affiliated debtors (the”Debtors“) are currently subject to a jointly administered reorganization proceeding under Chapter 11 of the United States Bankruptcy Code in United States South District Bankruptcy Court New York (the “Chapter 11 Cases“). In connection with the Chapter 11 cases and potential restructuring transactions arising therefrom (the”Potential Transactions“) of the Debtors, the Debtors have entered into confidentiality agreements (collectively, the”NDA“) with certain holders of the 10,000% Senior Secured Notes due 2027 issued by Stoneway.Cleaning equipment“), upon the occurrence of certain dates or events set out in the NDAs. To meet Debtors’ obligations under these NDAs, the Company makes the Cleansing Material public. The Cleansing Material includes the documents for updating the plan for cases by reference and available for public download at https://www.stonewaycap.com/investor-relations/ (the “December business plan update“).
This press release contains forward-looking statements. Forward-looking statements include updating the business plan as well as statements comprising the words “believe”, “expect”, “The updated business plan speaks only as of its date and date. Company does not undertake to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise.
Discussions regarding potential transactions remain ongoing but have been extended due to the ongoing assessment of tax efficient structures for potential transactions. Assumptions regarding the business plan update may be revised, which may result in significant revisions to the December business plan update. In addition, the assumptions and estimates underlying the December business plan update are inherently uncertain and are subject to a wide variety of significant business, economic, regulatory and competitive risks and uncertainties. Accordingly, no guarantee can be given that the events of the December business plan update will occur or that the projections contained therein will be achieved. Actual results could differ materially from those projected due to certain factors, including changes in assumptions in the December business plan update. In addition, the Company believes that the December business plan update involves increasingly higher levels of uncertainty as the projections extend from their preparation date.
The main activity of the Company is the construction, ownership and operation of power generation facilities located in Argentina.
FORWARD-LOOKING STATEMENTS: Certain information contained in this press release may contain forward-looking statements within the meaning of applicable securities laws.
Forward-looking statements necessarily involve risks, including, but not limited to, risks associated with the Company’s ability to operate in the normal course of Chapter 11 Cases, including with respect to fulfilling obligations owed to it. service providers, suppliers, contractors and employees; the Company’s ability to continue operating; the Company’s ability to continue realizing its assets and meeting its debts and commitments; the Company’s future liquidity position and access to capital to fund operations and outstanding obligations (including debt obligations); and the Company’s ability to stabilize its activities and financial condition.
Although the company bases its forward-looking statements on assumptions considered reasonable when made, they are not guarantees of future performance and actual results of operations, financial condition and liquidity, and developments in the industry. in which the company operates, may differ materially from such information and statements contained in this press release. Other unknown or unforeseeable factors could also adversely affect the Company’s future results. In view of these uncertainties, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements included in this press release are made only as of the date hereof. The Company does not intend and assumes no obligation to update these forward-looking statements, except as required by law.
SOURCE Stoneway Capital Corporation
For further information: David Mack, Director, (212) 856-9700 (x06), 410 Park Avenue, Suite 900, New York, NY 10022; Juan I. Sánchez Alcázar, Director of Restructuring, Av. Del Libertador 498, 15th Floor, Buenos Aires (C1001ABR), Argentina; For more information on Chapter 11 cases, please contact: Prime Clerk, (877) 720-6615, https://cases.primeclerk.com/StonewayCapital