CSOB tries for dozens of billions of Czech crowns
Article Abstract:
CSOB (Prague, Czech Republic), bank, is in 14 lawsuits for total receivables of more than CEK 45 bil currently. The firm's lawsuit for the highest sum of more than CEK 20 bil is with the Ministry of Finances of Slovakia. The sum is an unrecoverable receivable towards Slovenska Inkasna (Slovakia) from 1993. The Czech government gave a gurantee for the receivable on the level of a 90% instalment including interest. The lawsuit was brought to the International Centre for the Solution of Investment Disputes (ICSID) in Washington, the US. Besides, CSOB is in a lawsuit against Slovenska Inkasna for another CEK 15.7 bil excluding interest. Its further receivables include a receivable of CEK 5.5 bil at CKD Dopravni systemy (Prague, Czech Republic), a receivable of over CEK 3.8 bil at Svit (Zlin, Czech Republic) and a receivable of CEK 2.3 bil at Tchecomalt (Prostejov, Czech Republic). CSOB has to face five lawsuits for payables worth more than CEK 9 bil.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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The state will be cleared of debts of nearly CEK 70 bil
Article Abstract:
Konsolidacni banka (Prague, Czech Republic), state bank, has sold a package of the bad credits of 300 firms with an original value of CEK 19.1 bil for CEK 1.35 bil. The real value of the package of the receivables was only CEK 4 bil. The receivables were bought by CDV-1 (Czech Republic), Czech Debt Vehicle. The firm's owners are the international investment bank Goldman Sachs, the trade and real estate firm Flow East and IFC from the group of the World Bank. The largest debtors who will negotiate with CDV-1 are Intercontinental Comodities (Czech Republic), Automont (Czech Republic), Pragomilk (Czech Republic), R.T.Resice (Czech Republic) and Emde (Czech Republic).
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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The foreign debt of the Czech Republic decreases
Article Abstract:
Czech Republic: According to Ceska narodni banka (Prague, Czech Republic), Czech National Bank, the foreign debt decreased to CEK 814 bil as of 31 Dec 2000. This foreign debt, which means liabilities with respect to foreign countries excluding property investments, was CEK 822.5 bil at the end of 1999. The difference between total assets and liabilities was negative, CEK 168.9 bil, in 2000.
Publication Name: Mlada Fronta Dnes
Subject: Business
ISSN: 1210-1168
Year: 2001
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