11th Aug 2006 16:29
Eurotunnel PLC/Eurotunnel S.A.11 August 2006 11 August 2006 Immediate release On 2 august 2006, the Paris Commercial Court granted Eurotunnel's request to beplaced under the protection of the Court pursuant to the new safeguardlegislation (Procedure de sauvegarde). The procedure is designed to protect 17of the companies which form Eurotunnel from its creditors whilst seeking tofacilitate the design and implementation of a restructuring plan necessary forEurotunnel to carry on as a going concern. Such plan could result from ongoingnegotiations with Eurotunnel's lenders. 1. To this end :- • Maitre Laurent Le Guerneve and Maitre Emmanuel Hess were appointed Judicial Administrators - in that capacity, they are jointly responsible for assisting Eurotunnel's management in order to present to the Court and the Creditors a recovery plan for the business; • Maitre Jean-Claude Pierrel and Maitre Valerie Leloup-Thomas were appointed Judicial Representatives - their role is to represent creditors; in particular they will oversee the compilation of the complete list of Eurotunnel's liabilities and they will audit the accuracy of claims with the possibility of only admitting part thereof and/or contest some of them; and • Mr. Bernard Soutumier and Mr. Jean-Philippe Klotz were designated as overseeing judge (juge-commissaire) and deputy, respectively - the judge in this context ensures a speedy application of the procedure and the protection of the interests of all the parties. 2. The procedure is initially opened for a period of six months. 3. The Judicial Administrators will contact known creditors to invite themto declare their debts but creditors are informed that they must declare theirdebts to the Judicial Representatives within two months of the publication dateof the judgment. Creditors outside France are provided with a further twomonths to do so. 4. By virtue of Council Regulation (EC) 1348/2000 of 29 May 2000, thejudgments of the Paris Commercial Court are applicable in respect of companieswithin Eurotunnel which are registered in England & Wales. Ndegrees 991/2006 For media enquiries contact John Keefe on + 44 (0) 1303 284491. Email: [email protected] For investor enquiries contact Xavier Clement on + 33 1 55 27 36 27. Email: [email protected] www.eurotunnel.com Eurotunnel manages the infrastructure of the Channel Tunnel and operatesaccompanied truck shuttle and passenger shuttle (car and coach) services betweenFolkestone, UK and Calais, France. Eurotunnel also earns toll revenue fromtrain operators (Eurostar for rail passengers, and EWS and SNCF for railfreight) which use the Tunnel. Eurotunnel is quoted in London, Paris andBrussels. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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