We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Eurotunnel Rejects Deutsche Bank's Plan

Law360 (June 26, 2006, 12:00 AM EDT) -- Eurotunnel has turned down a restructuring plan proposed by Deutsche Bank AG, the latest development in what has become the contentious and complicated process of dealing with the Channel Tunnel operator’s €6.2 billion ($11.7 billion) debt.

Deutsche Bank and other infra-junior creditors began drawing up their own restructuring plan earlier this month, a move that grew out of unrest among Eurotunnel’s junior debtholders.

Citigroup was the first to propose an alternate restructuring plan, after Eurotunnel announced an eagerly-anticipated deal to restructure its massive debt on May...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.