requests increasingly come from a wide variety of sources, most commonly lenders, insurance providers, employers, and various government agencies.
Egyptian Refining Company (ERC), a core platform company of Citadel Capital has received official renewal of the Government of Egypt's comfort letter
for the strategic national project.
The comfort letter
included a clause which prevented Sir Stelios from speaking negatively about the airline, while also preventing him from either setting up a rival airline or becoming a significant holder in another carrier.
Owing to a succession of minority government during the past several years, it has been difficult for the Government to enact legislation of any stripe, including technical amendments implementing comfort letter
Easyjet said last week Sir Stelios alleges the directors breached the terms of a 'comfort letter
' dated last October by allegedly failing to remain committed to enhancing the Easyjet brand's reputation.
Among these developments is the removal of Heikal's name from the list of individuals prohibited from traveling outside of Egypt, the company's receipt of a "comfort letter
" from the Petroleum ministry for the Egyptian Refining Company, and the company's ranking as the largest private equity firm in Africa for the third year.
The government gave a comfort letter
guaranteeing that PLN would meet its obligation to the investors.
On the issue of comfort letter
, the source said as per this letter, the Government of Pakistan would have to allow a third country to import gas through IP pipeline in the event of any such country joining the project in the future.
Palestinian prime minister Salam Fayyad has appealed to the World Bank to help him secure emergency financing to bridge a shortfall in donor funds and pay public workers, Palestinian and European sources said yesterday.Fayyad is seeking a so-called comfort letter
from the Washington-based international lending agency to obtain short-term private bank funding, the sources said, speaking on condition of anonymity.The unusual appeal underscores the extent of the Palestinian Authority's budget crisis despite billions of dollars in aid pledged last year to support a US-backed peace drive.The Palestinian Authority's workers are due to be paid in the first week of each month.
Underwriters are required to obtain a comfort letter
from the accountants as part of their due diligence under the securities laws.
FEE backs a standard pan-European comfort letter
formula, drawing on the current widely-used system of due diligence.
As part of the due diligence process, the initial purchasers, like underwriters in a registered offering, require, as a matter of practice and custom, an accountant's comfort letter
on all financial information contained in the OC, and disclosure or negative assurance letters from both the initial purchasers' and the company's respective counsel.