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A-Tec: Compromise Between Banks and Creditors
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…
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