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Radia To Receive 125 Million in Financial Assistance

Radia To Receive 125 Million in Financial Assistance

Japanese recruiter Radia Holdings Inc. says that it has reached a settlement with creditors through an alternative dispute resolution.

The staffing firm will receive 21.5 billion yen (US$233.4 million) in financial assistance in the form of debt forgiveness or debt-for- equity swaps from lender banks and a consortium involving Morgan Stanley.

Radia aims to emerge from negative net worth by the year ending June 2013.

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