(Bloomberg) — Hertz Global Holdings Inc. agreed to pay lenders who indirectly control the company’s fleet of rental cars $650 million as part of a deal to suspend a bankruptcy court fight over the vehicles, according to court documents.Under the accord, Hertz will for the rest of the year halt its effort to cancel some of the nearly 500,000 leases on the cars the company rents out to consumers. A separate Hertz entity owns the vehicles, which the company leases back.The company will ask U.S. Bankruptcy Judge Mary Walrath to approve the settlement at a court hearing scheduled for July …read more
Source:: Yahoo Finance
