Emerson Radio Corp (MSN) Message Board

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Microcap & Penny Stocks : Emerson Radio Corp (MSN)

MSN 0.433

+4.1%

Nov 26 3:59 PM EST

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To: flyintigress who wrote (2883)	8/18/1999 1:16:00 PM
From: Tony Rome	Read Replies (2) of 3501

TIGRESS AND ALL I did a follow up on Daewoo, since it is a part of Emerson's bottom line.They are still trying to restructure and it is business as usual for the time being.Below is a part of the most recent press release on the matter. Looks like we are still in the ball game for now. Daewoo Asks Foreign Creditors to Delay Debt Repayment Seoul, Aug. 18 -- Daewoo Group asked Chase Manhattan Bank, HSBC Holdings Plc and dozens of other foreign creditors to delay repayment of $6 billion in debt, even as a French bank threatened to scuttle its restructuring efforts by suing the ailing South Korean conglomerate. In the first meeting with international creditors since the extent of its debt crisis surfaced last month, Daewoo executives said it will keep paying interest, thought it can't repay principal. The three-hour meeting ended with 140 representatives from 69 foreign creditors agreeing to form a nine-member steering committee to lead future negotiations. ========TONY=========

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