The FINANCIAL — ParaFin Corporation is a development oil company with current exploration projects near Bakersfield, California. In addition, ParaFin Corporation is the owner of $1.68 billion of ING Bearer Bond.
ParaFin believes that the recent announcement of the European Central Banks to guarantee liquidity to the European Banking Institutions will enhance the negotiations between ParaFin and ING Bank N.V for the settlement of the claim that ParaFin has made against ING for the payment of $1.68 Billion of Bearer Bonds.
Lawyers for Parafin and ING are now negotiating terms for a meeting between ING and ParaFin to have ParaFin’s Forensic Experts, along with officials from ING Bank, examine the bonds owned by ParaFin. ParaFin is confident that negotiations between ING and ParaFin to determine a settlement of its US$1.68 Billion claim against ING Bank N.V. will now proceed at an expedited pace.
Given the current low price of ParaFin, coupled with the likelihood of more than a billion dollar settlement, now is the time to invest in ParaFin Corporation.