Eurotunnel Inching Closer To Insolvency

Law360, New York (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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.