The systematic failure of an entire industry

BREAKING NEWS: Lombard Finance & Investments Ltd has suspended all payments of capital and interest to investors.

“It is clear from recent events that this is a systematic failure of an entire industry, and from our perspective a moratorium is now the only responsible course of action,” said chief executive Michael Reeves.The finance company will seek a meeting of its secured debenture holders at which it will propose a moratorium in respect of its payment obligations to holders of secured debenture stock, subordinated capital notes and subordinated notes.

The company hopes that during the moratorium it will be able to pay capital and interest when it is prudent to do so as funds permit.

Read more

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s