•
:
Unsympathetic
climate in any Court in which
in which other
creditors of CIL litigate with BMFL-
12.
On the other hand, the proposals in this paper,
if implemented, will obviate all of the above problems.
It will, however, only be viable if the values of the US
"
assets are far
confident
such sale.
beyond US$76 million and that BMFL is
that the present creditors will not object. to
Implementation
13.
If the proposals are acceptable,
implemented
they should be
as quickly as possible. A draft Sale and
Purchase Agreement produced by CIL's lawyers is attached.
It is being reviewed by the Bank's Hong Kong lawyers whose
preliminary comment is that the scheme of the proposed
legally acceptable although the US taxation
aspects (in the event of further sale) would have
sale)
sale i
to be
carefully considered,
6
No comments yet.
Private notes are available after approval.