Oaktree-Backed Restructuring of Consumer Lender Curo Approved

Curo Group Holdings Corp. won bankruptcy court approval of a restructuring plan that hands control of the consumer lending conglomerate to noteholders led by Oaktree Capital Management LP.

• Judge Marvin Isgur said Thursday he’d confirm Curo’s Chapter 11 plan which will cut roughly $1 billion in debt from the company’s balance sheet and swap-out senior notes for equity in the reorganized business.
• Noteholders slated to take ownership of Curo after it leaves bankruptcy include Oaktree, Caspian Capital LP, and Empyrean Capital Partners, according to court documents
• Under the plan, affiliates of Oaktree will appoint two directors to ...