MyTravel stirs up bondholders

A bondholder committee is being formed under the auspices of the law firm Cadwalader, Wickersham & Taft to negotiate with troubled UK package holiday company MyTravel.

The company, which has seen its market capitalisation fall from £750 million at the end of July last year to £56 million at the end of April, has a £230 million convertible bond issue maturing at the start of January next year.

The bondholder committee is being instituted in response to MyTravel negotiating with its

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