Land Bank and lenders strive to find debt solution
Talks on debt restructuring continue on eve of March 31 deadline to repay Standard Chartered
The Land Bank, which is restructuring its more than R40bn debt, on Tuesday night met lenders over a solution before a March 31 deadline to meet a R400m court-ordered repayment.
The bank defaulted on debt repayments last April and was sued by Standard Chartered, which a court said must be repaid by end-March. Other lenders, which chose not to sue and entered restructuring talks, had hoped for a liability solution before the repayment deadline...