It is evident that there is common ground and everyone is broadly agreed on where we need to get to. There is a still a lot of work to get through.
This is a business which we have long believed needed to transform, but once done, could return to growth
Johnston Press could seek to persuade trustees to accept equity in a new financial structure, for instance, to provide reassurance pensions will be paid. Such a deal could require the approval of the pensions regulator.
The US hedge fund GoldenTree is Johnston Presss biggest lender, holding bonds with a face value of around £70m. It has the whip hand in talk with shareholders, who face wipeout if the company defaults on its debts. Johnston Presss total market capitalisation is only £…
Read the full article at: http://www.telegraph.co.uk/business/2017/08/02/johnston-press-appeals-pension-trustees-back-salvage-deal-local/