Eurotunnel Preparing To Dispatch Creditor Invitations

Law360, New York (August 18, 2006, 12:00 AM EDT) -- In a precedent-setting move under France’s revised safeguard procedure, the administrators of the embattled channel tunnel operator are planning to invite creditors to join a bank debt holder committee.

Eurotunnel received an enormous break on August 2, after the Parisian court approved a stay from creditors under the country’s safeguard procedure, the French equivalent of U.S. Chapter 11 protection.

All creditors holding bank debt as of that date will be invited to join the committee representing bank debt creditors, according to a Dow Jones source....
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