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BRIEF-Terra Firma Capital Corp Updates On Urbancorp Matters

Published 2019-03-27, 04:44 p/m
© Reuters.  BRIEF-Terra Firma Capital Corp Updates On Urbancorp Matters
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March 27 (Reuters) - Terra Firma Capital Corp TII.V :

* TERRA FIRMA CAPITAL CORPORATION PROVIDES UPDATE ON URBANCORP MATTERS

* TERRA FIRMA CAPITAL CORP - PREVIOUSLY ANNOUNCED LITIGATION PROCEEDINGS COMMENCED IN ISRAEL AGAINST, CO, INTER ALIA, AND DOV MEYER HAVE BEEN WITHDRAW

* TERRA FIRMA CAPITAL - AGREED TO ASSIGN ITS RIGHTS IN CONNECTION WITH CLAIM BROUGHT IN BORROWER'S INSOLVENCY, SOME OTHER RIGHTS OF ACTION

* TERRA FIRMA CAPITAL CORP - CURRENTLY HAS ONLY ONE DEFAULTED LOAN RECEIVABLE FROM BORROWER

* TERRA FIRMA CAPITAL CORP - SETTLEMENT AGREEMENT HAS BEEN APPROVED BY ORDER OF ONTARIO SUPERIOR COURT OF JUSTICE

* TERRA FIRMA CAPITAL CORP - SETTLEMENT IS NOT EXPECTED TO HAVE ANY FURTHER IMPACT ON COMPANY'S FINANCIALS

* TERRA FIRMA CAPITAL CORP - EXPECTS TO RECEIVE FROM CASH RESERVES SUBSTANTIALLY ALL OF REMAINING OUTSTANDING LOAN AMOUNT BY END OF Q3

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