Irish billionaire Paul Coulson strikes $300mn deal to walk away from Ardagh
Agreement ends year of negotiations with creditors owed more than $10bn
Agreement ends year of negotiations with creditors owed more than $10bn

Billionaire Paul Coulson is ceding control of packaging group to bondholders but some noteholders are unhappy over terms

Ardagh’s $10bn restructuring allows creditors to command big premiums for ‘when issued’ bonds

Upcoming asset sales are expected to yield as little as $200mn to pay off debt pile of more than $12bn

Chipmaker sold stake two years ago to help shore up its precarious finances

Contentious restructuring has led to rare public fight between holders of derivatives designed to protect against default

Indian tycoon tells conglomerate’s annual meeting that governance meets global standards