Eurotunnel’s Bankruptcy Boasts £89M Price Tag

Law360, New York (March 8, 2007, 12:00 AM EST) -- Eurotunnel’s bankruptcy has proved pricey, with the company shelling out an estimated £89 million to the lawyers and other professionals who have guided it through safeguard proceedings lasting nearly two years.

The company revealed the news on Wednesday in connection with the release of its financial results for 2006.

Eurotunnel reported a net loss of £143 million for the last fiscal year.

“In the absence of a financial restructuring of the debt, the company was left with unsupportable financial charges (£368 million), which led to a...
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