A Third Restructuring Plan Proposed For Eurotunnel

Law360, New York (June 2, 2006, 12:00 AM EDT) -- Deutsche Bank and other infra-junior creditors are drawing up their own restructuring plan to deal with Eurotunnel’s €6.2 billion ($11.7 billion) debt, in a move that stems from unrest among Eurotunnel’s junior debtholders, according to a published report.

The new proposal, first reported by The Financial Times, marks the third Eurotunnel restructuring proposal floated since Wednesday.

Eurotunnel announced an eagerly anticipated deal to restructure its massive debt on Wednesday. The company said that the plan would spare it from bankruptcy. But Citigroup moved quickly to lure...
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