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If the response from unsecured creditors is positive, the administrators say there would be meetings in London and New York to develop a program to be launched in the second half of the year. "We are optimistic that we can gain significant support to enable this proposal to become a reality," Pearson said. "The conventional alternative process to determining claims using our powers under the Insolvency Act is likely to mean the exercise will be expensive and take many years and that cannot be in anybody's interest."
[Associated
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