Court Endorses Eurotunnel's Safeguard Bid

Law360, New York (August 2, 2006, 12:00 AM EDT) -- In a break for Eurotunnel, a Parisian court has approved the Channel Tunnel operator’s application for a safeguard procedure, granting the embattled company the French equivalent of U.S. Chapter 11 protection.

The president of the Tribunal de Commerce de Paris revealed the development at a court session on Wednesday, immediately placing Eurotunnel and 17 units under sanctuary.

"In a difficult context, the Paris Commercial Court has made a positive decision which will protect the business and the public service which it operates,” said Eurotunnel Chairman and...
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