Successful completion of restructuring
Wednesday, 11 February 2015Successful completion of restructuring In January 2015 we finalized the long-term restructuring of an investment loan provided by our client Sberbank CZ, a.s. for a development project (approx. 100 family houses in Jenštejn near Prague). The project was impacted negatively by the real estate crisis as well as lawsuits initiated by third parties which blocked the transfers of the real estate at the cadaster. Despite continued efforts the inanced real estate was not sold in several tenders organized in cooperation between the bank and the debtor throughout the years, however in the end the bank was able to minimize its…