Eurotunnel already has the backing of its creditors and the court’s decision
will pave the way for the Anglo-French firm to leave bankruptcy protection.
The company is currently operating under a
procedure’, the French version of bankruptcy protection.
Under the terms of the restructuring plan, the newly formed Groupe Eurotunnel
will make a share-swap offer for the French and UK share units of the current
Eurotunnel has three years in which to implement the restructuring and needs
the support of 60% of its investors for the share swap to proceed.
The second largest improvement in ‘significant’ levels of financial distress since the EU Referendum was in professional services, found research from Begbies Traynor
Steve Absolom and Will Wright from KPMG Restructuring have been appointed joint administrators to City Motor Holdings and associated companies
Partners from Johnston Carmichael have been appointed as joint administrators to Axon Well Interventions Products UK
Begbies Traynor have been appointed administrators of William Anelay Ltd, York, one of Britain’s longest-established construction and heritage restoration companies