Extract FRR addition20 Jan 2021 19:27
The representatives of Frontera Resources Corporation are denying Outrider Management’s participation in the funding of the company’s projects. According to them, in 2011, Outrider's Cayman Islands based investment fund purchased a portion of Frontera's then privately held debt in a liquidation sale at a deep discount from a third-party debt holder. Frontera Resources Corporation says that, after this purchase, the fund’s representatives started using debt instruments to interfere with the company’s business in an attempt to create an advantage to achieve an inappropriate takeover and liquidation of the company. Currently, the company is settling the disputes with the fund in courts.