Re: MyTravel Group plc - Statement on Behalf of the Ad Hoc Convertible Bondholder Committee.LONDON -- The ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. convertible bondholder committee (the "Committee") of holders of MyTravel Group plc's GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 216 million 7% Convertible Bonds due 2007, represented by Cadwalader, Wickersham & Taft LLP LLP - Lower Layer Protocol and Houlihan, Lokey, Howard & Zukin (Europe) Limited, has seen the Company's restructuring announcement this morning and authorised the following statement on the Committee's behalf. "The Committee is disappointed that the Company has taken precipitative action to file a scheme of arrangement without first negotiating with convertible bondholders. The Committee is concerned that the Company's conduct may make insolvency proceedings more likely. The proposal today does not have the Committee's support. The Committee's preference remains a consensual CONSENSUAL, civil law. This word is applied to designate one species of contract known in the civil laws; these contracts derive their name from the consent of the parties which is required in their formation, as they cannot exist without such consent. 2. deal but it must be a fair deal." Dated 3rd November 2004 |
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