Eurotunnel Heads Toward Bankruptcy Exit

Law360, New York (January 16, 2007, 12:00 AM EST) -- After months of wrangling, a Parisian court has greenlighted Eurotunnel’s safeguard plan, helping to pave the way for the beleaguered channel operator to finally emerge from bankruptcy.

On Monday, the Paris Commercial Court approved Eurotunnel’s restructuring plan, removing one of the last obstacles standing between the operator and a fresh start.

“Eurotunnel welcomes with great satisfaction this immediately enforceable decision, which lifts the shackles of its debt, preserves the integrity of the concession and allows it to look to the future with confidence,” the company said....
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