(External - DowJones) Le Meridien Rescue Talks Still Continuing

2003-07-14
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  • Le Meridien LONDON Talks to rescue troubled luxury-hotels group Le Meridien are still continuing between all parties, a spokesman for the company told Dow Jones Newswires Monday. Le Meridien reached an interim arrangement July 4 with its lenders, including mezzanine debt-holder Lehman Brothers , involving a downpayment of GBP4 million to the company's landlord Royal Bank of Scotland PLC in return for an extension of time for negotiations

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