FINSAC
Interventions
| Company: |
Workers Savings & Loans
Bank |
| Intervention Date: |
February / March, 1998 |
| Extent Of Support |
$7.9 billion |
The details of assistance and support to
this financial institution are listed in the
table below:
| Type
Of Assistance |
Summary |
|
|
Applicable
interest rate of 12.5%
Workers
irrevocably and unconditionally
waive all requirements as to
diligence, presentment, demand,
notice of dishonor, and all other
notices whatsoever, and agrees to
pay all expenses including
attorney fees incurred in the
collection of promissory notes
The
Promissory Notes shall be payable
by Workers without set-off,
counterclaim, deduction
restriction or conditions of any
nature
The
Promissory Notes shall be
governed by and construed in
accordance with the laws of
Jamaica
Promissory
Notes are transferable and
assignable by FINSAC
|
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