In a petition before court, Norsad says it is owed USD10,000,000 (nearly P129 million) and it seeks the winding up of ABCH to recover the funds it loaned to it. However, ABCH says it is undergoing debt restructuring in which certain signed agreements may result in Norsad being unable to recover its P100 million and that the financier is an unsecured creditor.
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