May 18, 2020 / 10:46 PM / 15 days ago

BRIEF-CAA Resources Says Cosmo Field Holdings Received Writ Of Summons Taken Out By Industrial Bank

May 19 (Reuters) - CAA Resources Ltd:

* INFORMED BY CEO AND COSMO FIELD HOLDINGS THAT THEY HAD RECEIVED A WRIT OF SUMMONS TAKEN OUT BY INDUSTRIAL BANK CO

* INDUSTRIAL BANK CLAIMS REPAYMENT WITH RESPECT TO DEFAULT OF LOAN OF US$45.1 MILLION

* BOARD SAYS DEFAULT WILL CAUSE MATERIAL ADVERSE EFFECT ON OPERATION OF GROUP

* DEFAULT WILL TRIGGER CROSS-DEFAULTS OF OTHER BORROWINGS AND LOANS OF GROUP

* WRIT OF SUMMONS TAKEN OUT BY INDUSTRIAL BANK AGAINST COSMO FIELD & CEO Source text for Eikon: Further company coverage:

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