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                    [ArticleID] => 336719
                    [Title] => Lafayette creditors threaten to take ‘drastic action’
                    [Summary] => 



Creditor banks of Lafayette Philippines Inc. (LPI) are reportedly threatening to take "drastic action" if the mining firm is not able to operate its Rapu-Rapu mining project in Albay by next week.


According to government sources, Lafayette has not been able to service its outstanding debts to its creditors since the stoppage of its mining operations in October last year.


Lafayette’s exposure include a $35 million debt financing facility, a A$140- million hedged market to market exposure and a A$60-million metal forward contract liability.


                    [DatePublished] => 2006-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
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LIMITED AND STANDARD CHARTERED FIRST BANK KOREA

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                    [ArticleID] => 336719
                    [Title] => Lafayette creditors threaten to take ‘drastic action’
                    [Summary] => 



Creditor banks of Lafayette Philippines Inc. (LPI) are reportedly threatening to take "drastic action" if the mining firm is not able to operate its Rapu-Rapu mining project in Albay by next week.


According to government sources, Lafayette has not been able to service its outstanding debts to its creditors since the stoppage of its mining operations in October last year.


Lafayette’s exposure include a $35 million debt financing facility, a A$140- million hedged market to market exposure and a A$60-million metal forward contract liability.


                    [DatePublished] => 2006-05-15 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1805266
                    [AuthorName] => Marianne V. Go
                    [SectionName] => Business
                    [SectionUrl] => business
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Lafayette creditors threaten to take ‘drastic action’

By Marianne V. Go | May 15, 2006 - 12:00am

Creditor banks of Lafayette Philippines Inc. (LPI) are reportedly threatening to take "drastic action" if the mining firm is not able to operate its Rapu-Rapu mining project in Albay by next week. According...

Business