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MyTravel rescue package approved
MyTravel can relax a bit if it cuts its debt burden
Holiday firm MyTravel has won High Court approval for a rescue plan which bondholders had tried to block.
The London High Court said on Wednesday MyTravel could exclude bondholders from its plans to restructure £800m ($1.47bn) of its debt.
Bondholders oppose the firm\'s plan for an equity swap, which would leave them with an 8% stake.
Mytravel returns to court on 20 December to have the restructuring scheme finalised.
THE BBC