Arthur Andersen Noteholders Organize.Business Editors NEW YORK--(BUSINESS WIRE)--March 21, 2002 In response to the numerous recent public disclosures concerning Arthur Andersen For the U.S. Supreme Court case commonly known as Arthur Andersen, see . Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms (the other four are PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG), performing LLP LLP - Lower Layer Protocol ("Andersen US") and other Arthur Andersen firms worldwide ("Andersen Member Firms"), the holders (the "Noteholders") of the $200 million in private notes issued by Andersen US, which notes are guaranteed by Andersen Worldwide Andersen Worldwide Société Coopérative (AWSC) was a Swiss-based entity which managed the global offices of accounting firm Arthur Andersen. It was also the parent corporation of Andersen Consulting (now called Accenture) before its split in 2000. Societe Cooperative ("Andersen Worldwide"), have organized as a group in order to ensure that their interests are properly protected. Among other matters, the Noteholders are following very closely the public announcements and other press reports concerning possible merger or sale transactions involving Andersen US, Andersen Member Firms, Andersen Worldwide, and various other parties. The Noteholders' written agreements with Andersen US and Andersen Worldwide contain various covenants that, under certain circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact. 2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or , restrict certain merger and sale transactions involving Andersen US, other Andersen Member Firms, and Andersen Worldwide, and also restrict the situations in which Andersen Worldwide's contractual relationship with an Andersen Member Firm can be amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , modified or terminated. The Noteholders are interested in ensuring that any proposed merger, sale, amendment, modification or termination transaction is in compliance with the Noteholders' contractual agreements or, in the alternative, that appropriate arrangements are made for the Noteholders' consideration of whether to waive To intentionally or voluntarily relinquish a known right or engage in conduct warranting an inference that a right has been surrendered. For example, an individual is said to waive the right to bring a tort action when he or she renounces the remedy provided by law for such the application of their covenants under all the circumstances. However, absent such compliance or appropriate arrangements, the Noteholders reserve all of their rights and remedies. |
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