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- Fri Mar 28, 2014 12:00 am
- Forum: General
- Topic: Standby L/Cs used to avert default
- Replies: 2
- Views: 3425
Standby L/Cs used to avert default
I have been sitting in Florida puzzling over this scenario for nearly a month. I think its a slight of hand to repay the loan with "seemingly" new external funds from a different/new source i.e. the foreign sub. and foreign bank It avoids default, pays the loan with supposed new money, and...