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Gold/Mining/Energy : Mongolia Gold Resources -- Ignore unavailable to you. Want to Upgrade?

To: Dave R. Webb who wrote (2667)	9/24/1998 8:18:00 PM
From: Phil Jones	Read Replies (2) \| Respond to of 4066

Dave: Have you heard any more rumours about the First National Bank of Mongolia chasing that one of its debtors that is in a joint venture on a gold mill with a Canadian partner? I assume that institutions are a lot more cozy with debtors in Mongolia than in Canada, i.e. banks give debtors much more leeway on repayment -- and bankruptcy is not really in the cards. Does Mongolia even have a Bankruptcy Act? From watching what is going on Russia (which can't be that far removed from Mongolia as far as business practices), nobody seems to chase others too much to collect debts (unless you include the Underworld). Everything seems to drift along, and nobody seems too perturbed if money owed them is late. Maybe there's no point in getting perturbed because there's no way under the country's laws to collect.