Udenna Corp., the holding company of businessman Dennis Uy, on Saturday denied defaulting on loans of unit Clark Global City Corp. and said it will settle its obligations with Clark International Airport Corp. READ:
Udenna said in a statement it received a notice of declaration of default from a consortium of banks led by BDO Unibank Inc. as the majority lender against CGCC.
CGCC acquired in 2017 GGDC, which holds the leasehold rights on a 177-hectare property in Clark Freeport Zone.
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