Who said they're stupid...sure keeping legal profession
bizzy these days...GENUiTY's taken "legal action" against Deutsche Bank...
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Thursday July 25, 9:27 am Eastern Time
Genuity Increases Cash on Hand to Support Future Funding Requirements
WOBURN, Mass.--(BUSINESS WIRE)--July 25, 2002--Genuity Inc. (NASDAQ:GENU - News) today announced it has requested that the global consortium of banks, which provided the company with a $2 billion line of credit, fund the remaining $850 million. Genuity made the request of the banks on Monday morning, July 22, 2002. To date, it has received approximately $723 million, with eight of the nine banks fulfilling their funding obligations, bringing its current total cash balance to approximately $1.3 billion.
The original facility, which was led by The Chase Manhattan Bank, Citibank, Credit Suisse First Boston and Deutsche Bank, was signed in September 2000...
biz.yahoo.com
SOURCE: Genuity Inc. |
