ING Admits Issuing June 16 2010 Series FF Bearer Bonds Issued in 2000
03 Octubre 2011 - 8:00AM
Marketwired
ParaFin Corporation (PINKSHEETS: PFNO):
ParaFin Corporation owns 800 Series FF ING 5.5% June 16, 2010 EUR
1,000,000 Bearer Bonds issued June 16, 2000. Each Bond converts to
a US$ value of approximately US$2.1 million for a total value of
the ING Bearer Bonds owned by ParaFin in excess of US$1.68 Billion.
ParaFin is continuing efforts to negotiate a settlement of its
US$1.68 Billion claim against ING Bank N.V., Amsterdam. ParaFin's
lawyer in Germany received a response from ING Bank's lawyer in
Amsterdam that stated that ING Bank N.V. did issue Series FF ING
5.5% June 16, 2010 Bearer Bonds issued June 16, 2000.
This is the first admission by ING that ING N.V. issued Series
FF June 16 2010 Bearer Bonds in June, 2000 and it was received in a
letter from the attorneys for ING Bank N.V.
In the same letter to ParaFin's lawyer, ING's lawyer informed
ParaFin's lawyer that only financial institutions were entitled to
hold and convert the Series FF Bearer Bonds issued by ING Bank N.V.
into a Global certificate and all ING Series FF Bearer Bonds held
by financial Institutions have had their holdings in the Series FF
Bearer Bonds converted into a Global note. Others, like ParaFin,
who are holding ING Series FF Bearer Bonds have not been Offered
the opportunity to convert to a Global certificate.
Representatives, acting on behalf of ParaFin Corporation, have
been actively negotiating with financial institutions in Europe and
Asia to have them acquire the ING Bearer Bonds from ParaFin and
then have the financial institution that acquires the Bearer bonds
convert to the Global certificate or redeem them from ING Bank
N.V.
Disclaimer Certain statements in this news
release may contain forward-looking information within the meaning
of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under
the Securities Exchange Act of 1934, and are subject to the safe
harbor created by those rules. All statements, other than
statements of fact, included in this release, including, without
limitation, statements regarding potential future plans and
objectives of the company, are forward-looking statements that
involve risks and uncertainties. There can be no assurance that
such statements will prove to be accurate and actual results and
future events could differ materially from those anticipated in
such statements. Technical complications that may arise could
prevent the prompt implementation of any strategically significant
plan(s) outlined above. The company cautions that these forward
looking statements are further qualified by other factors
including, but not limited to those, set forth in the company's
Form 10-KSB filing and other filings with the United States
Securities and Exchange Commission (available at
http://www.sec.gov/). The company undertakes no obligation to
publicly update or revise any statements in this release, whether
as a result of new information, future events or otherwise.
To be included in our company mail list for real-time news and
updates, please e-Mail: ceo@parafincorp.com
Contact: ParaFin Corporation 5190 Neil Road, Suite 430 Reno,
Nevada USA 89502 e-Mail: ceo@parafincorp.com Web:
www.parafincorp.com (213) 985-3136
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