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Non-Tech : MFN Mercury Finance

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To: Phil who wrote (1224)	3/10/1999 7:47:00 PM
From: Raymund W	Read Replies (1) of 1239

What does this mean for current shareholders? Wednesday March 10, 5:44 pm Eastern Time Note: this article has a followup with more information. Mercury Finance sees Chapter 11 emergence in March CHICAGO, March 10 (Reuters) - Mercury Finance Co. (OTC BB:MFNN - news) said Wednesday its plan of reorganization has been confirmed by the U.S. Bankruptcy Court for the Northern District of Illinois and it expects to emerge from Chapter 11 in late March. The reorganized company will be named MFN Financial Corp. New shares will be issued with 95 percent distributed to senior lenders in return for a substantial debt reduction and 5 percent to current shareholders. (Note: this article is ''in progress''; there will likely be an update soon.) More Quotes and News: OTC BB:MFNN - news Related News Categories: options, US Market News Help Copyright © 1999 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. See our Important Disclaimers and Legal Information. Questions or Comments?

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