Eurotunnel Presents Creditors With Plan

Law360, New York (November 1, 2006, 12:00 AM EST) -- With the deadline set by the Paris Commercial Court finally reached, beleaguered channel operator Eurotunnel has shipped off its restructuring plan proposal to creditors after months of negotiation.

On Wednesday, Eurotunnel presented creditors with its reorganization strategy on the heels of the company’s board endorsing the proposal.

“This plan has been reached through dialogue with the principal creditors and with the support of the court-appointed representatives,” said the company, noting that the final proposal included creditor suggestions.

“Representing the best equilibrium possible between all the stakeholders,...
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