FINSAC
Interventions
| Company: |
Caldon Finance Merchant Bank |
| Intervention Date: |
March 22, 1998 |
| Extent Of Support |
$121.1 million (effective
May 1, 1998) |
The details of assistance and support to
this financial institution are listed in the
table below:
| Type
Of Assistance |
Summary |
- Assignment
of deposit liabilities
|
Deliver,
transfer or assign to FINSAC any
cash securities, security or
another assets held by Caldon
directly or indirectly for the
benefit of the depositors.
Not to
pay, prepay or repay any of its
debts without the prior written
consent of FINSAC.
Not to
purchase or otherwise acquire any
assets without the prior written
consent of FINSAC
Not to
make any payment outside of the
ordinary course of business and
not to make any payment in excess
of $10,000 other than for the
salaries on existing terms and
conditions of employment without
the prior written consent of
FINSAC.
Not to
make any payment directly or
indirectly to any shareholder of
any class of shares whatsoever or
to any Director of Caldon,
without prior written permission
from FINSAC
Not to
sell, transfer or otherwise
dispose of its assets, or any
part thereof, to any connected
party with the prior written
approval of FINSAC.
|

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