AT&T Canada gets green light to restructure

21 Feb 2003

Bondholders and creditors of bankrupt Canadian telecoms operator AT&T Canada have voted in favour of a restructuring plan which could see the company emerge from bankruptcy protection on 1 April 2003. The Toronto-based company said 91% voted for the proposal which is designed to make a USD160 million cash payout to bondholders and leave bondholders and creditors holding all the equity in the firm.