Fri 08 Feb, 2008
| Posted in: Insolvent Sea Containers has reached agreement in principle with the trustees of the two main pension schemes.
The hugely-indebted company, which has been forced to sell most of its assets in its fight for survival, described this as “a critical and positive milestone” in efforts to emerge from Chapter 11 protection from creditors.
The principle asset of London-headquartered Sea Containers is its half share in container leasing giant GE SeaCo.
The company, whose interests at one time ranged from...