Formosa Liberty's Backers Hope for Quick Settlement with China
The management of Formosa Liberty Corp. (OTC PINK:FLIB) announces the following:70 Year Old Billion Dollar Debt Haunts Chinese Government
The directors and management of Formosa Liberty Corp. (OTC PINK:FLIB) announce the following:Foundation Capital Expresses Interest in Funding Formosa Liberty
Formosa Liberty has entered into the initial stages of a funding arrangement with the Singapore based Foundation Capital Pte. Ltd. Under the agreement with Foundation Capital, the Singapore firm will make a best effort attempt to locate and deliver funding for the bond collection, litigation costs and defaulted debt restructuring efforts of Formosa Liberty. Foundation Capital Pte. Ltd is a venture capital and corporate advisory firm. The firm focuses on listing advisory as well as merger and acquisitions and reverse takeovers.Formosa Liberty New Debt Collection Strategy
Formosa Liberty has fine-tuned its debt collection strategy. While the previous management focused on collection efforts against quasi private entities, the new strategy will seek public confirmation by the government of the Republic of China (Taiwan) as guarantor of its defaulted debt under Article 63 of the Act Governing Relations Between Peoples Of The Taiwan Area And The Mainland Area which states that the pre 1949 sovereign debt of China shall be dealt with upon national unification.