A-Tec: Compromise Between Banks and Creditors

IndustrialsConstruction ♦ Published: November 5, 2010; 12:18 ♦ (Vindobona)

The creditors of the ailing industrial group A-Tec have been able to reach a compromise with the banks to provide further financing for the Group.

A-Tec: Compromise Between Banks and Creditors / Picture: © A-Tec

The agreement was reached because of massive pressure exercised by the banks. The compromise is therefore primarily at the expense of the creditors: all conditions made by the banks have been widely accepted. Liquidity of AE&E is assured until October 2011. Liabilities and loans are said to amount to between 97 and 150 million euro.

As negotiations have however not been…