Ruling On Eurotunnel Bankruptcy Bid Postponed

Law360, New York (July 25, 2006, 12:00 AM EDT) -- The Paris Commercial Court has postponed a ruling on Eurotunnel’s bid for the French equivalent of Chapter 11 protection until August 2.

The court's postponement on Tuesday marks the latest development in what has been the contentious and protracted process of selecting a plan to restructure the Channel Tunnel operator’s £6.2 billion ($11.5 billion) debt.

Despite difficulties in past negotiations, Eurotunnel is touting the delay as an opportunity to solidify an agreement based on “an implicit consensus” that has emerged during the discussions between the company...
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