PFNO NEWS: ParaFin Corporation Enhanced Negotiations With ING Bank N.V.
Parafin Corp (PL) (USOTC:PFNO) Intraday Stock Chart
Today : Wednesday 29 February 2012
ParaFin Corporation (Stock Symbol:PFNO.PK) believes that the recent announcement of the European Central Banks to guarantee liquidity to the European Banking Institutions will enhance the negotiations between ParaFin and ING Bank N.V. for the settlement of the claim that ParaFin has made against ING Bank N.V. for the payment of approximately US$1.6 Billion. Prior to the recent announcement of the European Central Banks to guarantee the necessary liquidity to the European Banking Institutions, ING Bank N.V. had been unwilling to even agree to meet with ParaFin or the Forensic Experts retained by ParaFin.
Lawyers for ParaFin and ING Bank N.V. are now negotiating terms for a meeting between ING Bank N.V. and ParaFin to have ParaFin's Forensic Experts, along with officials from ING Bank N.V., examine the bonds owned by ParaFin. ParaFin is confident that negotiations between ING Bank N.V. and ParaFin to determine a settlement of its US$1.68 Billion claim against ING Bank N.V. will now proceed at an expedited pace.
About ParaFin Corporation
ParaFin Corporation, a Development Stage company, engages in the acquisition and exploration of Oil and Gas properties. The company was founded in 1978 and is based in Reno, Nevada. The potential of Hydrocarbon Concessions and other opportunities in the Oil & Gas industry have continued to be the focus of the Corporation from 1978 until the present. Effective March 30th, 2010, the Board of Directors of ParaFin Corporation have authorized the President to negotiate the acquisition of Hydrocarbon Assets in North America
