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JUDGE UNHAPPY WITH TERMS OF PENGUINS' LOAN FROM SOCIETE

          U.S. Bankruptcy Court Judge Bernard Markovitz "hedged
     at approving" the Penguins' $20M loan from Societe Generale
     because he was "unhappy with loan provisions that left the
     team owing open-ended fees," according to Ann Belser of the
     PITTSBURGH POST-GAZETTE.  Markovitz said that "he didn't
     like" the Penguins having to pay $50,000 once the loan
     commitment letter was signed, with additional expenses
     billed at closing, and that the team had already paid
     $25,000 toward the expenses without his approval. 
     Markovitz: "If reasonable fees were requested and submitted,
     we would approve them."  Penguins bankruptcy attorney Robert
     Sable said Societe Generale's offer of $20M at 1% above the
     prime lending rate was "the best deal available."  Bank of
     America wanted 2.5% above the prime lending rate and offered
     only $13M, and PNC Bank and Bank of Boston wouldn't loan the
     team money.  Sable said that the Penguins would lose $16-17M
     this season, and the loan was "vital to the operation of the
     team" (PITTSBURGH POST-GAZETTE, 11/20).  Sable: "I just
     don't know where else to go" (Pitt. TRIBUNE-REVIEW, 11/20). 

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