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Banks may give up rights to revive housing projects

Dated on: Monday 26th June 2023

Several CEOs and senior officials from high-street banks engaged in discussions a week ago regarding a significant development. They expressed a willingness to surrender their primary claims over assets and cash flow to new financiers who are prepared to rescue stalled housing projects. These projects have unfortunately left countless home buyers in a state of uncertainty across the nation. The banks are open to granting priority funding rights to these new lenders.

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