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Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde

Gilson, Stuart C. ; Dessain, Vincent ; Abbott, Sarah L.

Reference: HBS-209113-E
Year: 2007
Number of pages: 5
Geographic Setting: France;United Kingdom
Publication Date: Mar 3, 2009
Source: HBSP (USA)
Type of Document: Case
Industry Setting: Transportation

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Description

In mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they face significant dilution of their ownership interests in Eurotunnel. If the vote fails to pass, the possibility that the company may have to be liquidated becomes increasingly likely.

Keywords

Assets Bankruptcy Business failures Capital structure Crisis management International finance Restructuring Shareholder relations Valuation