Minority of Hibu lenders threaten legal action

Beleaguered UK directories company Hibu — formerly known as Yell Group — has received notice from some lenders that they may seek to launch legal action to recover unpaid debt repayments of up to £65m. The dissenting lenders have not received a payment due this week under Hibu’s 2006 loan, and could submit a petition for the winding-up of the borrowing entity, said the company.

  • 30 Oct 2012

Hibu, which owns the Yellow Pages, said on October 26 that it had suspended all payments of principal and interest on its loans until it concluded a restructuring of its balance sheet.

The co-ordinating committee of lenders, which together holds £537.3m (24%) of Hibu’s £2.279bn 2009 facilities ...

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