Bondholders Still Trying To Thwart Eurotunnel

Law360, New York (February 9, 2007, 12:00 AM EST) -- Despite Eurotunnel securing approval for its restructuring plan, the embattled tunnel operator may not be out of the woods yet, with several bondholders vowing to press on with their fight against the company’s proposal to restructure nearly €9.4 billion in debt.

Citing anonymous sources, Dow Jones reported on Friday that a group of three investors, including Elliott Advisors and Resurgence Asset Management, were spearheading an opposition movement against the plan.

The Paris Commercial Court approved Eurotunnel’s restructuring plan in mid-January, removing one of the last obstacles...
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