January 26, 2017 / 9:23 PM / 8 months ago

BRIEF-KGIC announces demand by lender, notice of intention to enforce security and court appointment of a receiver

Jan 26 (Reuters) - KGIC Inc -

* Pursuant to an order of supreme court of British Columbia, three of company’s four directors have resigned

* Sole remaining director, Shan Padda, has indicated his intention to resign

* Co’s lender, CIBT finance asked KGIC, 23 of co’s units for payment in full of KIGC’s outstanding indebtedness of $12.3 million by Feb 7, 2017 Source text for Eikon: Further company coverage:

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