IIG Funding seeks dialog with creditors to ensure continued operations

By Caroline Salls

Pittsburgh, April 22 - IIG Funding Ltd. - International Investment Group KSCC wants to establish a forum for a constructive dialog with its creditors to ensure its business operations continue to operate on a normal basis, according to a news release.

As previously reported, IIG Funding has not made a $3.35 million periodic distribution payment due April 12 on its $200 million of trust certificates due 2012.

However, International Investment said the company and its associated businesses continue to trade on a normal basis and the day-to-day operation of those businesses have not been affected by the missed payment.

The company has hired KPMG Advisory WLL and NEN Al Wagayan Al Awadhi Al Saif, working with law firm DLP Piper, to help International Investment evaluate its restructuring options.

International Investment is an Al Safaa, Kuwait investment company.

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