FT indicating that MyTravel will be able to proceed with Resue plan
"MyTravel was expected to proceed with an £800m ($1.5bn) debt-for-equity swap after a UK court ruled on Wednesday that bondholders would not have an economic interest in the tour operator formerly known as Airtours if it were to go into liquidation.
In his ruling judge Justice Mann said the company can restructure its debt without the approval of bondholders. But Mr Mann rejected the proposed scheme of arrangement on a technicality and gave MyTravel the opportunity to present a new scheme later on Wednesday."
FT On line
Clearly indicating that they will be able to proceed with a resubmitted plan, as per Curious Pax's posting