Thread: Iraq Announces Conclusion of Commercial Debt Settlement

Originally Posted by DayDream

Sorry Neno...but this article is from July 18, 2006

http://www.eyidro.com/doc/Iraq_Annno...Settlement.pdf


Cheers!
DayDream

Login Name Why, then, on this particular site is the word new flashing in red? where that article can be pulled up?

Your right CoolD..It does come up new!!!
Things that make ya go hummmmmmm!!!!

Originally Posted by DayDream

Sorry Neno...but this article is from July 18, 2006

http://www.eyidro.com/doc/Iraq_Annno...Settlement.pdf


Cheers!
DayDream

Even the wording in an older one is similar to this one. Maybe there were phases???

This one is from 2005

The Republic of Iraq announced Friday the successful conclusion of the first phase of its offer to repurchase and cancel, at a discount, Saddam-era claims held by commercial creditors. On August 8, the first batch of Invitations to settle (at a discount) commercial claims were sent to creditors whose claims had been substantially reconciled. The offer period for the Invitation expired on September 9.

Of $750 million in commercial claims eligible for settlement pursuant to this first round of offers, preliminary results are that holders of approximately 78 percent of claims accepted outright. Only approximately 2 percent of claims were rejected or failed to respond. Holders representing approximately 20 percent of claims elected to defer making a decision until work on their remaining unreconciled claims could progress further, an option that was expressly permitted by the terms of the offer. The final figures are being verified by the Settlement Agent and will be published on www.eyidro.com on or before September 22.

"We are very encouraged by the results of this first round of offers," said Ali A. Allawi, Iraq's Minister of Finance. "Iraq's debt restructuring program is on track and on schedule. All remaining commercial claimants should receive their invitations in the coming few months as their claims are reconciled."

On July 26, Iraq announced its intention to offer to settle all outstanding Saddam-era commercial claims against Iraq and Iraqi public sector obligors through a discounted cash purchase or a debt-for-debt exchange offer, depending upon the aggregate size of a holder's claims.

A second offer period to settle claims for cash will begin shortly as the next batch of claimants eligible to receive the cash purchase offer become substantially reconciled. A debt-for-debt exchange targeted to holders of larger aggregate claims is planned for the fourth quarter of 2005.

Originally Posted by cooldolphins

MY ELECTRICITY JUST CAME BACK ON...WHAT ARE WE CELEBRATING????

Iraq's Commercial Debt forgiveness is concluded. See shabibi's quote at the bottom of Neno's article in post #163.

Originally Posted by cooldolphins

Login Name Why, then, on this particular site is the word new flashing in red? where that article can be pulled up?

Believe it is just released for viewing. Login Name Got others finding this out as well.

Could it have been ammended somehow? or perhaps it wasn't released (even though it says for immediate release) till now?

Originally Posted by DayDream

Sorry Neno...but this article is from July 18, 2006

http://www.eyidro.com/doc/Iraq_Annno...Settlement.pdf


Cheers!
DayDream

Working on the sender for how the date apeared of June 18, 2007

i noticed on the site that daydreamer gave at the bottom of the article..it does not say it has been concluded..but the new one does!!!

Hey coold, just go back and read pgs 16-18!!! it's all there and it looks and reads like we are on our way!!!!!

Believe it is just released for viewing. Login Name Got others finding this out as well.

Iraq's Commercial Debt forgiveness is concluded. See shabibi's quote at the bottom of Neno's article in post #163.

Originally Posted by snottynose

i noticed on the site that daydreamer gave at the bottom of the article..it does not say it has been concluded..but the new one does!!!

Can I get an Amen brothers and sisters!!! How about an RV!!! Come on now, let's get ready to set this thing off!!!!

Like it was said earlier.....
"COME ON WORLD!!"