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Telewest agrees rescue plan
News Telewest has today announced a deal with creditors which will see it put an end to its debt woes after a year of financial wrangling. The deal is based on a debt-for-equity swap, where Telewest's creditors will take 98.5 per cent of the company to... [15 Sep 2003]
Hit the road, Knapp
News This process effectively saw NTL taken away from its shareholders, who had helped to finance the growth of the firm, and handed to the firm's creditors. NTL announced on Tuesday that Barclay Knapp is stepping down from his role as CEO at the end of... [13 Aug 2003]
Telewest rescue postponed
News He is fresh from a deal which brought him three seats on the board of NTL in January, when that cable company did its debt-for-equity swap. His own fund is the largest shareholder of rival cable company NTL. [10 Jun 2003]
Dutch carrier files for bankruptcy (and it's not KPNQwest)
News Investors also believe that by filing for protection against creditors Versatel can avoid repeating the collapse of KPNQwest. Investors hope Versatel will seek to convert its debt into shares and cash following the lead of the likes of NTL. [20 Jun 2002]
NTL bosses rack up huge bonuses
News This month NTL filed for Chapter 11 bankruptcy protection to keep creditors from the door in a bid to buy time to restructure its debt, which stands at more than $10bn. NTL bosses paid themselves almost $2m in bonuses last year at the same time... [29 May 2002]
NTL files for Chapter 11
News NTL has stressed its services will continue as usual and creditors, suppliers and staff will continue to be paid as they usually would. NTL has filed for Chapter 11 protection, a move intended to help the debt-laden company restructure. [09 May 2002]
NTL delays $100m loan repayment
News NTL failed to repay around $100m it owes on debts of $1.3bn yesterday - but as the move was at the request of its bondholders, there is hope that the company is close to agreeing a restructure which satisfies its creditors. [02 Apr 2002]
Telewest debts force major rethink
News Telwest's recent woes echo those of NTL - though its rival is mired in even greater debts and further down the line in discussions with its creditors over swapping debt for equity. The company has amounted debts of £5bn and it is thought its... [25 Mar 2002]
NTL to unveil restructuring plans
News A cash-for-equity swap is thought to be the most likely scenario for the company with creditors taking control of up to 70 per cent of the company in exchange for a 50 per cent reduction of its debt. NTL is to warn its investors of its debt... [28 Jan 2002]
