Banco Suquia receives consent for acuerdo preventivo

Pittsburgh, Sept. 10 - Banco Suquia SA received 16 confirmations of its 20 creditors, or 80% to carry out its proposal to Banco de la Nacion Argentina, according to a company news release.

The improvements are made up of the following alternative proposals:

Option A: 25% of declared credit, without interest, acutalization or adjustment, in cash 12 months from the acuerdo preventivo. The bank fund has the right to solicit payment of the present net value three months from the acuerdo preventivo.

Under option B, 5% of the amount, without interest, in cash 30 days from the acuerdo preventivo and 95% converted to U.S. dollars at $1 for each $2.9970 million.

The fund also has the option to require anticipated payment of the converted balance.

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