Wed, 22 May 2013
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A&O, Camerons, Freshfields seal Welcome Break sale
There were lengthy (and I assume expensive) bondholder disputes in 03 -04 over restructuring and refinancing Welcome Break's 1997 whole business securitisation, which hit trouble when the company didn't grow fast enough to generate enough money to repay bondholders. Fair to say that the company probably wasn't a cash cow...
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