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lmf1264

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lmf1264

Re: AMA1 post# 201429

Thursday, 03/25/2010 11:34:29 AM

Thursday, March 25, 2010 11:34:29 AM

Post# of 203990
There seems to be a misunderstanding here... Xechem International and Xechem Nigeria are currently not "related". Xechem Nigeria has taken into receivership by the lenders (NEXIM, Bank PHB and Diamond Bank) and when that happened in July the doors were locked and production stopped. Nothing in the US has or will affect that, in fact the banks couldn't care less about the US Bankruptcy process (trust me on this one, I've discussed it with each of them numerous times). The only way Nicosan gets back into production is if all three banks, NIPRD and the Ministry of Health agree on a plan (that should give you some indication as to why this is taking so long...).

The delay in BK court isn't a bad thing, we are still trying to herd the cats...
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