Saturday 23 June 2018
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10 days ago

Recovering Victorias Milling agrees to pay subsidiary’s loans

Leading sugar producer Victorias Milling Corp. (VMC) seeks to amend its rehabilitation plan to include about P1.19 billion worth of contingent liabilities currently the subject of ongoing litigation cases with creditor-banks. VMC recently filed with the Securities and Exchange Commission (SEC) a motion to alter the rehab plan, specifically to address its unresolved and contingent liabilities consisting of refined sugar delivery orders (RSDO) and refined sugar quedans (RSQ). These were purportedly issued by

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