The owner of Manchesters Trafford Centre and Lakeside in Essex, Intu, has secured debt cancellations until 26 June this month and has said he is now proposing status quo agreements that would allow him to suspend the review and repayment of debt facilities by December 2021. May 18 (Reuters) – Troubled mall operator Intu Properties Plc warned on Monday that it was likely to break its debt commitments at the end of June due to lower rents and seek status quo agreements with creditors to emerge from the coronavirus crisis. Glencore enters into a status quo agreement with Bunge – WSJ, citing sources Text: on.wsj.com/2iaXN7v Other corporate reports: In April last year, the group signed an agreement with GameStop that prevented it from publicly expressing concerns about the company and its performance after meeting some of its demands. Initially, FTSE shares fell 19% as investors weighed the risks of default and the benefits of a possible debt break before recovering about 4% a day to 4.4p. The length of the proposed agreement has not been fixed, the official said. WASHINGTON (Reuters) – The United States has asked South Korea and Japan to consider signing a “status quo agreement” on a serious diplomatic dispute to give countries time to negotiate, a senior U.S. official told reporters on Tuesday. The United States is closely following the dispute, particularly before a deadline of August 24, when the two countries re-commit to an annual information-sharing agreement. The proposed status quo would not resolve any of the differences between the two countries, but would prevent further measures for a period of time to allow for discussions, the official said. “In order to create a stable environment to tackle this situation, there are tacit agreements with the financial players involved…

are the best way to proceed,” says a company statement. . Intu had previously stated that it expected positive effects through government measures, including the suspension of business interests, assistance with staff costs and the deferral of tax payments. . After divesting a few properties in Britain and Spain last year to support already under pressure, Intu said that given the current investment climate, it was unclear whether it would be able to secure new financing or sell more real estate to tackle its alliance problems. Intu employs 80% of the 2,600 people employed in its centres in the UK and Spain. ($1 – 0.8260 pounds) Japan curbed exports of high-tech equipment to South Korea when relations between the two countries deteriorated this month, fueled by a dispute over compensation for South Koreans forced to work in Japanese factories when Japan occupied the Korean peninsula from 1910 to 1945. A spokeswoman for Intu said the company did not have access to the government`s Covid Corporate Finance Facility (CCFF), which provides a lifeline for large companies that can prove they were in good financial health before the pandemic. Washington is trying to help in the dispute between its regional allies, the official said, noting that Foreign Minister Mike Pompeo was expected Thursday to meet with the foreign ministers of Japan and South Korea at a regional conference in Bangkok. Brokerage Liberum says that Co will collapse without state assistance (Adds shares, analyst comments, background) “We whole-heartly believe that the difference between the company`s current share price and the intrinsic value of GameStop, which we believe is a high teen, will only be realized if the company is properly governed,” according to the group.

The company`s shares fell nearly 12% in pre-trading trading. GameStop did not immediately respond to a request for notice. In general, the BRITISH government has encouraged companies to show leniency towards their partners who have been challenged by the new coronavirus.