Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

Citibank's $434 million claim against Czech miner should be eligible: CTK

Published 10/23/2019, 12:19 PM
Updated 10/23/2019, 12:21 PM
Citibank's $434 million claim against Czech miner should be eligible: CTK
C
-

PRAGUE (Reuters) - A Czech court ruled that Citibank's (N:C) claim to debt worth over 10 billion crowns ($434.10 million) owed by Czech miner OKD was eligible, CTK news agency reported on Wednesday.

CTK reported OKD's former insolvency administrator and representative of the state, which now owns OKD's mining operations, both said they would appeal the ruling.

OKD filed for insolvency in 2016 while a unit of miner New World Resources, which went into liquidation that year. OKD's insolvency administrator rejected Citibank's claim, leaving it out of proceedings.

The state later acquired OKD, which employs around 9,000 in the country's industrial northeast.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.