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, Germany, Jan. 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." Source: Apollo Management, L.P. CONTACT: Edelman In Frankfurt: Frank Schoenrock, +49-69-756199-27, Frank.Schoenrock@edelman.com, or In New York: Doug Donsky, +1-212-704-4473, Doug.Donsky@edelman.com ------- Profile: International Entertainment