Everything came to a head during March 1994 when Team Disney offered the banks an ultimatum, that Disney would provide sufficient capital investment for the park to continue to operate until the end of the month, but unless the banks agreed to restructure the $1bn debt that the park's construction and operation had run up, the Walt Disney company would close the park, and walk away from the whole European venture, leaving the banks with a bankrupt theme park and a massive expanse of virtually worthless real estate.
EuroDisney then forced the bank's hand by calling the annual stock-holder meeting for March 15th. Faced with no alternative other than to announce to the stock holders that the park was about to close the banks started looking for ways to refinance and restructure the massive debts. Then to further increase the pressure on the banks, Michael Eisner, Disney's CEO went public shortly before the stock-holder meeting and announced that Disney were planning to pull the plug on the venture at the end of March 1994 unless the banks were prepared to restructure the loans.
Finally on March 14th, just before the annual meeting the banks capitulated, and agreed to Disney's demands, effectively writing off virtually all of the next two years worth of interest payments, and a three year postponement of further loan repayments. In return the Walt Disney Company wrote off $210m in unpaid bills for services, and paid $540m for a 49% stake in the estimated value of the park, as well as restructuring it's own loan arrangements for the $210m worth of rides at the new park.