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Abit reaches tentative agreement with creditor banks

Daniel Fleshbourne Administrator Neowin @dfleshbourne · Jan 21, 2005 07:00 EST with -1 comments

Abit Computer has reached a tentative agreement with its creditor banks, allowing it to use its funds deposited at the banks as well as access to banks' credit lines available to the company, sources at the motherboard maker said yesterday. Abit's deposits and its credit lines, or the amount of short-term revolving funds the company can get from banks with its credit, which totaled NT$4.7 billion, were frozen by its creditor banks after the Taiwan Stock Exchange (TSE) downgraded Abit stock to requiring full-delivery in mid-December, amid allegations of fraud at the motherboard maker.

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