Ad Hoc Committee of Holders of Navistar International Corporation's Senior Notes Will Negotiate Terms.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- The Ad Hoc Committee ad hoc committee A committee formed with the purpose of addressing a specific issue or issues, which theoretically is disbanded once its raison d'etre is finished of Senior Noteholders of Navistar International Navistar International Corporation (Pink Sheets: NAVZ) (formerly International Harvester Company) is a manufacturer of International brand commercial trucks, MaxxForce brand diesel engines, IC Corporation brand school buses, Workhorse brand chassis for motor homes and step vans, Corporation, whose members are financial institutions who are holders of Navistar's $250 million issue of 7 1/2% Senior Notes due 2011 and its $400 million issue of 6 1/4% Senior Notes due 2012, announced today that it has advised Navistar that its members now collectively hold substantially more than a majority in principal amount of each of those two series of notes and that it is prepared to negotiate with the Company to address the Company's inability to meet its financial reporting obligations under the respective Indentures for these Notes. The Committee previously had caused the Trustee for the Notes to issue a notice of that default under the respective Indentures for the notes, which the Company has acknowledged that it received on February 3, 2006. J. Andrew Rahl, Jr. of Anderson Anderson, river, Canada Anderson, river, c.465 mi (750 km) long, rising in several lakes in N central Northwest Territories, Canada. It meanders north and west before receiving the Carnwath River and flowing north to Liverpool Bay, an arm of the Arctic Kill & Olick, P.C p.c. (post cibum), n a Latin phrase meaning “after meals”; the abbreviation may be used in prescription writing. ., counsel to the Ad Hoc Committee, commented that "The Ad Hoc Committee looks forward to having a constructive dialogue with the Company and is hopeful that these discussions will lead to a productive result for all concerned." |
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