{
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  "documentTitle": "European Distressed Credit Watch List",
  "authorId": "AlvarezMarsal",
  "authorName": "Alvarez & Marsal",
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      "text": "Total Debt: 285",
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      "text": "- Aug 15 - senior lenders took control of the Group through a financial restructuring delivered via a Scheme of Arrangement. Obligations of £358M were released in exchange for a new £200M senior debt facility and a £85M junior facility both maturing in December 2019. Under the restructuring, shares in a parent company were sold to a new structure owned by the senior creditors. In addition, the Group secured a £75M revolving LOC and a £30M RCF. Cory Environmental Ltd is guarantor to the new facilities\n\n- Jun 16 - Following a strategic review conducted by the Board, the Group sold its collection business to Biffa Waste Services for EV of GBP 23M",
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      "text": "Cory Environmental Limited operates as a recycling, waste management, and energy recovery company in the United Kingdom. It collects, recycles, and disposes waste, as well as municipal cleaning. The company was formerly known as William Cory and Son Ltd and changed its name to Cory Environmental Limited in 1990. The company was founded in 1896 and is based in London, United Kingdom. Cory Environmental Limited operates as a subsidiary of Cory Environmental Management Ltd.",
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      "text": "Source: Capital IQ, Debtwire, Company website",
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      "kind": "title",
      "text": "D. UTILITIES – CORY ENVIRONMENTAL LIMITED",
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