(Reuters) - Tyco is being taken to court by the trustee of its bonds, The Bank of New York, and a group of bondholders who argue that the company did not get the required approval from bondholders to separate into three different entities.
"Tyco failed to obtain requisite bondholder consents for the proposed break-up of the company and instead attempted, unsuccessfully, to coerce the bondholders to accept less than the full amount of money owed to them," a bondholder group said in a letter to Tyco's board of directors last month. For details, see [nN14574946]
Read more at Reuters.com Bonds News
"Tyco failed to obtain requisite bondholder consents for the proposed break-up of the company and instead attempted, unsuccessfully, to coerce the bondholders to accept less than the full amount of money owed to them," a bondholder group said in a letter to Tyco's board of directors last month. For details, see [nN14574946]
Read more at Reuters.com Bonds News
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