High Court Extends Injunction Against PrimaCom AG Indefinitely, Barring Sale of Multikabel

High Court Extends Injunction Against PrimaCom AG Indefinitely, Barring Sale of Multikabel

FRANKFURT, January 18/PRNewswire/ -- The Second Secured Lenders to PrimaCom AG said today the High Court in
London has extended the interim injunction obtained last week against the
Company indefinitely, preventing the sale of its subsidiary Multikabel,
without creditor approval. The Second Secured Lenders include JP Morgan and
a consortium including Apollo, Blackstone, Pequot and Goldentree.



The High Court last week granted a preliminary injunction lasting five
days, until further review. The Court has now extended the injunction
indefinitely, pending trial, or another hearing in due course.



Commenting on the action of the High Court, Apollo issued the following
statement:



"We are very pleased that the High Court extended the injunction against
a sale of Multikabel. PrimaCom's management and any potential buyer now face
serious legal risk, if they proceed with a sale without the consent of the
Second Secured Lenders.



"It remains to be seen what Mr. Preuss and his Board will do in regards
to the High Court's ruling. Management's resort to litigation in Germany
although, under the credit facility agreement, German courts have no
jurisdiction, instead of negotiating a restructuring that is agreeable to all
parties, can only be detrimental to PrimaCom and its stakeholders."



CONTACTS:
Edelman
In Frankfurt:
Frank Schoenrock
+49-69-756199-27
Frank.Schoenrock@edelman.com

In New York:
Doug Donsky
+1-212-704-4473
Doug.Donsky@edelman.com



Source: Apollo Management, L.P.

In Frankfurt: Frank Schoenrock, Edelman, +49-69-756199-27, Frank.Schoenrock@edelman.com; In New York: Doug Donsky, Edelman, +1-212-704-4473, Doug.Donsky@edelman.com


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