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Eurotunnel Inching Closer To Insolvency

Law360 (July 12, 2006, 12:00 AM EDT) -- Eurotunnel was in last-minute talks with its bondholders’ committee and creditors on Wednesday, negotiating a possible reorganization plan for the embattled company to pay off its €6.2 billion debt and avoid insolvency.

The talks may continue until Thursday morning, past the original midnight deadline.

"The talks are continuing," a Eurotunnel spokeswoman told Reuters. "If we get to one minute before midnight but see that there is a chance of coming to a conclusion we will not stop if the parties are willing to go later into...
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