Eurotunnel Seeks Insolvency After Talks Collapse

Law360, New York (July 13, 2006, 12:00 AM EDT) -- After last-minute talks with its creditors and bondholders over a proposed reorganization plan failed, Eurotunnel pressed on with its request for bankruptcy protection on Thursday.

“At its meeting in Paris today, the joint board of Eurotunnel decided unanimously to cancel the general meetings of shareholders…and confirmed its intention to place the group under the protection of the Paris commercial court,” the company’s Thursday statement said.

According to the company, a ruling on its request for insolvency—the European equivalent of Chapter 11 bankruptcy protection—is expected from a...
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