Tuesday, January 26, 2010

Nearly 77 per cent of Canwest's lenders support its restructuring plan

Toronto-based law firm McMillan, which is acting as counsel to Canwest LP's key lenders, says that 135 lenders representiing 77 per cent of senior secured lenders have committed their support to the restructuring plan. The proposal requires the consent of two-thirds of Canwest LP's senior secured debt (66.6 per cent) and a majority of all votes cast at a formal vote scheduled for Wednesday.

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