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Creditor banks don’t want to run Taipei Dome

Creditor banks don’t want to run Taipei Dome

TAIPEI (Taiwan News) – The creditor banks of the Taipei Dome don’t want to take over the project from the Farglory Group if they do not have to, Taipei City Vice Mayor Teng Chia-chi said Friday.
The Taipei City Government met Friday morning with representatives of the 11 banks involved in a syndicated loan to finance the stadium project, which has been caught in disputes between the city and developer Farglory for the past several months.
The meeting was called by the city government, which wanted to explain its position after recent statements that it hoped the creditor banks, led by Mega International Commercial Bank, could take over the project.
After the encounter, Teng told reporters that the banks wanted the city to speed up its supervision of efforts by Farglory to improve safety and to present a new safety report as well.
After the city produced an earlier safety report, it ordered work on the Taipei Dome to stop, but changed its mind a short time later to allow work which would prevent damage to the nearby Mass Rapid Transit line.
The banks’ basic attitude was that if it was possible not to take over the Dome project, they would not take it over, Teng said.
A total of 20 bank representatives visited the Taipei City Government Friday morning to discuss the case with Teng and with officials from several city departments. After the two-hour meeting finished, members of the bank delegation did not speak to the media, reports said.
The city was likely to invite Farglory for talks about the Dome’s safety next week, as the banks did not want to be involved in running the project due to insufficient experience, reports said.


Updated : 2021-09-20 20:45 GMT+08:00