A-Tec: Financing Only Secured Until January

CompaniesTechnology ♦ Published: November 2, 2010; 13:46 ♦ (Vindobona)

The plan of the creditors' committee was rejected. The Banks are consulting with each other for the financing of the ailing A-Tec group, after which the creditors’ committee will present a new proposal to the credit institutions.

A-Tec: Financing Only Secured Until January / Picture: © A-Tec

The original proposal made by the creditors' committee stated that 25.1% of the A-Tec shares belonging to Mirko Kovats would be pledged to the banks and that the dividends of Montanwerke Brixlegg, amounting to 12 million euro (16.76 million dollars) would go to the AE&E group. In exchange for this, 140 million euro (196 million dollars) should be provided, half as new loans and half…