Kovats in Distress: Rescue Package Must Stand Firm by Monday

Companies › Technology ♦ Published: October 29, 2010; 15:14 ♦ (Vindobona)

The coming days are of utmost relevance for Mirko Kovats’s insolvent A-Tec Group. The rescue package must be ready by Monday.

Kovats in Distress: Rescue Package Must Stand Firm by Monday / Picture: © A-Tec

Before then, financing for the Styrian A-Tec subsidiary AE&E (Austrian Energy & Environment) has to be clarified by the creditors committee with the banks and credit insurers. In particular, foreign banks seem to be hard to convince. There is better cooperation from the Austrian institutions, according to committee sources.

If no agreement is reached by Monday, the…

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