Results for Czech Republic
- SR - Czech Republic - Frivolous insolvency motions recognised as criminal offence
According to a ruling by the Czech Supreme Court, filing a motion for the initiation of insolvency proceedings on the basis of knowingly false information (i.e., what is known as a “frivolous insolvency motion”) may qualify as a criminal offence – that o ...
Resource Article - twallace@abiwor... - 12/29/2016 - 13:18 - 0 comments - 1 attachment
- Czech Central Banker Says Negative Rates May Help End Koruna Cap
below zero from the current 0.05 percent that would make the koruna less attractive, board member Tomas ...
Daily Headline - global.abi.org - 12/08/2016 - 22:12 - 0 comments
- Czech Government Approves Loan To Help Miner OKD
The Czech government approved a 700 million crown ($29 million) loan to help keep afloat hard coal miner OKD, an insolvent unit of New World Resources , the prime minister and industry minister said on Wednesday, Reuters reported. OKD, a major employer i ...
Daily Headline - global.abi.org - 07/27/2016 - 21:05 - 0 comments
- Czech Corruption Police Investigating Financial Operations at OKD Mining Company
The Czech corruption police investigate the financial management of the OKD black-coal mining company, which was declared insolvent in May and has debts worth billions of crowns, the Czech News Agency has found in the insolvency register. Detectives from ...
Daily Headline - abi_admin - 07/18/2016 - 11:11 - 0 comments
- Czech Industry Minister Says NWR's Mining Arm Needs $42 Million Loan To Keep Operating
Czech coal miner OKD, the insolvent unit of New World Resources (NWR), urgently needs a state loan of up to 1 billion crowns ($42.1 million) to keep operating, Industry Minister Jan Mladek said on Wednesday, Reuters reported. Mladek, in a statement, said ...
Daily Headline - global.abi.org - 06/08/2016 - 19:09 - 0 comments
- Czech Unions Join Investors To Bid For Insolvent NWR Arm
Czech miners' unions have teamed up with lignite mine owner Pavel Tykac and another investor to make on offer for New World Resources' insolvent mining subsidiary OKD, the unions said on Monday. The unions did not give any details of their offe ...
Daily Headline - global.abi.org - 05/23/2016 - 23:13 - 0 comments
- Once Largest Prague IPO, Miner NWR Sees Break Up Prospects
New World Resources Plc, which entered the Prague Stock Exchange eight years ago as the largest Czech equity offering ever, may become the country’s biggest corporate failure in at least a decade, Bloomberg News reported. The mining company, controlled b ...
Daily Headline - global.abi.org - 05/04/2016 - 19:50 - 0 comments
- Czech Miner NWR's Main Business Files For Insolvency
The main business of Czech coal miner New World Resources (NWR) filed for insolvency on Tuesday after failing to secure government aid, but could still agree a reorganisation plan to stay afloat, Reuters reported. The business, OKD, which owns the countr ...
Daily Headline - global.abi.org - 05/03/2016 - 19:30 - 0 comments
- Coal Miner NWR Faces Insolvency Or Buyout At Lower Price
($137.72 million), cleared of most debt. The company has been trying to reach a restructuring and state aid ...
Daily Headline - global.abi.org - 05/02/2016 - 20:04 - 0 comments
- Article from INSOL Europe (18 - 24 April 2016) GlobalINSOLvency Editorial Board
The Czech Supreme Court recently issued two decisions having a significant impact on the position of secured creditors (i.e. generally financial institutions) within insolvency proceedings. Both decisions stem from one of the first major insolvencies con ...
Resource Article - twallace@abiwor... - 04/19/2016 - 12:50 - 0 comments - 1 attachment