Cont'l stuck with $23 million loan after firm goes bankrupt

Continental Bank is stuck with $23 million in loans to AmduraCorp., a Denver company that filed for bankruptcy Monday.

But the bank said it was prepared for the worst and already hadclassified its share of $100 million in Amdura loans asnon-performing.

Amdura, a wholesale distributor of hardware, said it soughtprotection from its creditors after it failed to obtain additionalcredit from 14 banks who participated in the loan.

Continental was the lead bank on $100 million of credit, but itsold 77 percent of the loan to other banks, sources said. The banksaid its loans to Amdura are …