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June 27, 1992|From Times Staff and Wire Reports

E-II Reaches Agreement on Capitalization: Three holders of E-II Holdings Inc.'s junk bonds have filed a petition to force the company into Chapter 11 bankruptcy reorganization, executives said. The investors who filed the petition hold about $35 million of the approximately $1.2 billion in debt still outstanding. They are subordinate to holders of senior debt. E-II announced that it had reached an agreement with the senior bondholders and other creditors for a reorganization and planned to file its own Chapter 11 petition within 30 days. E-II said that under its reorganization plan, its independent subsidiaries will not file for Chapter 11. E-II is the parent of luggage maker Samsonite Corp., water-treatment equipment maker Culligan International Co. and apparel maker McGregor Corp.

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