SKo rejects offers for bad loans

Bad-loan hospital bank Slovenská Konsolidačná has rejected forming a consortium with Deutsche Bank and passing Sk54 billion ($1.2 billion) in bad loans on to the joint firm to recover.

The agency also rejected an offer by Penta Group corporate raiders, through the Vinlan firm, to buy the receivables for one per cent of their face value.

The agency houses over Sk100 billion in unrecoverable or risky loans that were cut out of state banks VUB, SLSP and IRB before their sale to foreign investors from 2000-2001.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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