Eurotunnel sends Draft Safeguard Restructuring Plan Proposals to creditors, in accordance with the timing defined by the Paris Commercial Court

31/10/2006 - 10:00

In accordance with the French Safeguard Procedure, and within the calendar defined by the Paris Commercial Court, Eurotunnel has sent out its Draft Safeguard Restructuring Plan Proposals, as approved by the Board and which creditors will be required to vote upon.

This plan, the result of a long period of negotiation, has been reached through dialogue with the principal creditors and with the support of the court appointed representatives. It takes account of the final observations made by the creditors. Representing the best equilibrium possible between all the stakeholders, this plan aims to guarantee the future integrity of the current concessionnaire.

The court appointed representatives are responsible for consulting the creditors. They will set the details and timing of the vote.