The High Court is ready to sanction the deal, provided some minor amendments are made, the BBC online reported today.
As a result the company will now re-list on the London Stock Exchange in a week’s time as the renamed Marconi Corporation.
The restructuring deal will see a £4bn debt-for-equity swap with the banks and bondholders get their hands on 99.5% of the company.
Ordinary shareholders will be left with just 0.5% of the business.
Three new partners and seven business restructuring advisers have been appointed to the new Preston office
Political and economic uncertainty behind the fall in confidence
Just Racing Services, operating company of the Manor Racing Formula One team has entered administration
Last year 16 oil and gas companies became insolvent, finds Top Ten firm Moore Stephens