Creditor Group Rejects GZO AG's Restructuring Plan, Proposes Alternatives

A group of creditors led by Clearway Capital GmbH has rejected GZO AG’s restructuring proposal. The group, holding 6.56% of the defaulted GZO AG bonds, presented alternative options to save Wetzikon hospital. They urged bondholders to support these alternatives at an upcoming meeting.

GZO AG's plan includes a debt cut, a capital increase, and a financing proposal for completing the new hospital building. These measures require approval from shareholder municipalities and depend on finding a financing solution. The hospital also seeks to merge with other local hospitals.

The Creditor Group expressed doubts about the plan’s complexity and timeline, estimating a two-year implementation. They suggested alternatives like cash distribution, asset monetization, or a shareholder guarantee.

Bondholders are urged to register their votes for the meeting on October 25th. Those experiencing issues can contact the group for assistance.