NewSat Lawsuit Advances With Claims Up To $4.81 Billion Against Global Lenders [Yahoo! Finance]
SOCIETE GENL FRNCE S/ADR (SCGLY)
NASDAQ:AMEX Investor Relations:
societegenerale.com/en/investors
Company Research
Source: Yahoo! Finance
focus, as the Supreme Court of Victoria begins hearing a case brought by the company's liquidators against a group of global lenders and credit insurers. The lawsuit names Societe Generale, Credit Suisse now owned by UBS Group Standard Chartered, the Export-Import Bank of the United States, and Coface, with allegations that previously agreed financing was not honored. The claim centers on whether the withdrawal of funding may have prevented NewSat from paying contractors, ultimately disrupting efforts to build and launch what was intended to be Australia's first independently-owned satellite. Warning! GuruFocus has detected 5 Warning Signs with NXDCF. Is NWTLY fairly valued? Test your thesis with our free DCF calculator. The financial implications remain contested. Singapore real estate investor Ching Chiat Kwong, who said he invested $100 million of his own capital into the company, has pointed to an expert report estimating potential losses around $1 billion tied to missed sat
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