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Westfield had needed support from 75% of investors in each company to push ahead with the restructure.
The hope with the restructure is to get to profitability.
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Problems with the restructuring program are already appearing.
The company said it planned to take a charge of $5 million to $7 million in connection with the restructuring.
Before nonrecurring charges of 22 cents a share associated with the restructuring, earnings were 64 cents a share.
Hence the rescue plan.In competition with the restructuring orchestrated by Messrs Fresco and Galateri, Mr Berlusconi is pushing an alternative.
Louis Gallois, Mr Streiff's replacement and a co-chief executive at EADS, pledged to continue with the restructuring effort.
Ms. Brown also recently hired an outside consultant, Lisa Benenson, to help with the restructuring of the magazine.
The company is reportedly working with the restructuring firm Resolve in an attempt to turn its fortunes around.
In parallel with the restructuring, PVH embarked on a sale of some of MG Rover's key assets.
He said the fund was to meet the requirements of the exchequer and to deal with the restructuring of the banking system.
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