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What the papers say - FINANCIAL TIMES

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Channel Tunnel operator Eurotunnel has produced initial plans to restructure its £6.3bn debt to creditors. The plans form part of discussions on how to reduce the operator's debt burden before an expected fall in revenue next year, when a minimum annual income guarantee arrangement finishes.

Former transport secretary Stephen Byers faces demands for a parliamentary investigation following a High Court admission that he misled MPs over his decision to force Railtrack into administration in October 2001. Byers admitted that his assertion that the transport department had not discussed possible future changes to Railtrack's status before 25 July of that year was untrue.

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