<i>Reduced latest payment by several million</i><br>
(October 1 – 10:45 ET) –
Queensway Financial Holdings Ltd.
is restructuring some its debt. It
agreed with its bank lenders to
reduce the payment due on
September 30 from $17 million to
$5 million.
The firm has been struggling
recently. In September, its
chairman, David Rooney, departed
to “pursue other opportunities.”
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