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Navigator, Portugal’s largest maker of fine paper, on Tuesday denied that Portucel had debts to Zimbabwean South African capital, or others, after accusations of a creditor consortium, and admitted to resort to the court to defend its good name.
In question is the news disclosed on Tuesday by Lusa on the intention of a consortium of companies that said to be a creditor of Portucel Moçambique in going forward with a criminal proceeding in Portugal against The Navigator Company group, owner of the forestry company, for losses of more than $50 million in that company.
“Portucel Moçambique has no debts to these South African and Zimbabwean capital companies, nor to any other entities,” Navigator said on Tuesday.
The company admitted to resolving the situation in the courts: “Portucel Moçambique and The Navigator Company will also resort to all judicial mechanisms at their disposal to enforce their reason and their good name against any slanderous allegations that have been or will be made.”Source: Lusa