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Telewest Director (Non-Executive) Quits
By: MarkJ - 19 November, 2003 (9:30 AM)

Telewest's non-executive director, Stanislas Yassukovich, has quite the company’s board in protest over the debt-for-equity restructuring process:

"As the formalities for completion of the restructuring arrangements must now be undertaken, it is appropriate that I now resign from the Board. As you know, I never accepted the decision of the ad hoc Committee of Bondholders to renegotiate the terms of the re-structuring as originally agreed, albeit on a non binding basis. As I consider the revision of the terms to be prejudicial to the interests of all the stakeholders, I could not join in what you would correctly wish to be a unanimous recommendation to shareholders."

Still, perhaps he'll find a job at BT like Telewest's Gavin Patterson recently did. More @ DigitalSpy.

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