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LUX » Topics » 23.6. Insolvency

This excerpt taken from the LUX 20-F filed Jun 28, 2006.

23.6.                        Insolvency

(a)                                  Any Obligor or any of its Material Subsidiaries are unable or admit in writing their inability to pay its debts as they fall due, suspends making payments on any of its debts or, by reason of actual or anticipated financial difficulties, commences negotiations with one or more of its creditors with a view to rescheduling any of its indebtedness or in respect of any Obligor or any of its Material Subsidiaries which is a corporation incorporated in Italy, such company is dissolved pursuant to Article 2448 of the Italian Civil Code.

(b)                                 A moratorium is declared in respect of any indebtedness of any Obligor or any of its Material Subsidiaries.

23.7.                       

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