On behalf of the syndicate of creditors, the Investment Agent ABC Islamic Bank (E.C.), confirms that no meaningful proposal has been received from International Leasing and Investment Company (ILIC) in respect of restructuring its debts.
“The creditors therefore emphasize that any news from International Leasing and Investment Company stating or giving the impression that such restructuring is under discussion or has been approved by all creditors is false,” ABC Islamic Bank in a statement issued on Monday said.
The Investment Agent also asserts that court proceedings have already commenced against International Leasing and Investment Company in Kuwait and these proceedings are currently ongoing and are under review by the Kuwaiti courts.