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Tiffany & Co Canada threatens action over Diamcor's failure to repay loan
Diamond miner Diamcor Mining has received a Section 244 notice under the Canadian Bankruptcy and Insolvency Act, after failing to repay a C$3.51-million loan to jeweller Tiffany & Co Canada. The Section 244 notice provides notice to Diamcor that Tiffany intends to enforce its security against all of the company’s present and after acquired personal property and all shares held by the company in the capital of DMI Diamonds South Africa.
Diamond miner Diamcor Mining has received a Section 244 notice under the Canadian Bankruptcy and Insolvency Act, after failing to repay a C$3.51-million loan to jeweller Tiffany & Co Canada. The Section 244 notice provides notice to Diamcor that Tiffany intends to enforce its security against all of the company’s present and after acquired personal property and all shares held by the company in the capital of DMI Diamonds South Africa.
