Castle Holdco 4 scheme of arrangement approved by noteholders

By Caroline Salls

Pittsburgh, April 28 - Castle Holdco 4's scheme of arrangement has been approved by holders of its senior secured notes and senior notes, according to a company news release.

Specifically, the company said holders of £445.69 million, or 98.96%, of the senior secured notes voted in favor of the scheme, while holders of £5.14 million, or 1.14%, voted against it.

Also, holders of £150.53 million of the senior notes, or 94.74%, voted to approve the scheme, and holders of £8.35 million, or 5.26%, voted against it.

The final hearings to sanction the schemes are expected to take place at the High Court of Justice of England and Wales on May 6 and the Grand Court of the Cayman Islands on May 7, according to the release.

Castle acquired Countrywide plc, a Witham, England-based real estate company, in May 2007.

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