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Creditors sting Asia Pulp and Paper.
The latest blow to Asia Pulp and Paper (APP) was the Singapore High Court decision instructing APP to pay $11.5 million to two suppliers. Fibre Source International sued APP for $1.53 million and Avebe sought $9.97 million over lack of payment for credit facilities, overdrafts and guarantees as well as general contracts.
The rulings follow one in March ordering APP to pay $1.9 million to Credit Lyonnais for failing to reimburse the French bank for losses from foreign-exchange contracts. The, amounts are relatively small compared with APP's total debt of S$ 12.2 billion ($6.7 billion), but it still remains unclear how APP would pay APP recently stopped payment of …
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- Harnischfeger and APP fight over ordered paper machines.(Harnischfeger...
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Magazine article from: PIMA's North American Papermaker
February 1, 1999
700+ words
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- Beleaguered APP hires law firm.(Asia Pulp and Paper, Jones Day Reavis and...
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Newspaper article from: The Daily Deal
Cassidy, Padraic
September 27, 2001
700+ words
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- APP seeks to address environmental concerns.(Asia Pulp and Paper )(Brief...
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Magazine article from: Print Week
June 26, 2003
700+ words
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- WWF snubs APP's sustainable plan.(Asia Pulp and Paper Company Ltd)(World...
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Magazine article from: Print Week
February 26, 2004
700+ words
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- APP reshuffle plan angers creditors.(Asia Pulp and Paper)(Brief Article)
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Magazine article from: Print Week
October 16, 2003
700+ words
