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Strategies & Market Trends : Talk to Lola:)

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To: SwampDogg who wrote (1618)	10/18/1999 8:55:00 AM
From: Lola	Read Replies (1) of 2010

HHL.a/tse. . . . NP says Hurricane set to meet with creditors Hurricane Hydrocarbons Ltd HHL.A Shares issued 44,512,359 Oct 15 close $2.25 Mon 18 Oct 99 In the News The National Post reports in its Saturday, Oct. 16, edition that Hurricane Hydrocarbons says it is prepared to meet bondholders and shareholders this week on a proposal that would have it acquire the Kazakhstan refinery that processes its oil. The National Post's Carol Howes writes that a group of bondholders, representing 74 per cent of bonds, applied last week to remove the court protection Hurricane is under and push the company into bankruptcy. Hurricane has agreed to pay $57-million (U.S.) plus shares to Central Asian Industrial Investments and OJSC Kaskommerstsbank for 84 per cent of OJSC Shymkentneftoergsyntez. However, the deal needs approval from bondholders and creditors, who are owed about $200-million. Hurricane sought protection under the Companies' Creditors Arrangement Act last May when it could not meet interest payments on two series of debentures. Hurricane says it will meet with holders in Toronto on Tuesday and in New York on Wednesday and Thursday. +++++ Lola:) PHNPI

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