A French court has approved a safeguard plan proposed by the owners of Paris' skyscraper Coeur Defense and ruled against the seizure of the tower by their creditor banks. Under the plan, owners Lehman Brothers and Atemi will be granted a further two years for the repayment of an asset-backed bond, which will now be due in 2014. They will also continue to manage Coeur Defense and collect rent until 2014, the court ruled.
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