Brok to soon start paying all its debtors who are owed over zl.100 million

The management board of the Brok brewery applied to the Koszalin Commercial Court to begin settling its liabilities which are in excess of zl.100 million. The majority of the debt, about zl.90 million, is owed to Bank Pekao SA. However Brok is only planning to settle zl.15 million owed to around 60 creditors, who are mostly suppliers and foreign contractors. This will allow Brok to avoid petitions for bankruptcy from them. "We officially started the proceeding on March 14 and these should be considered by the court in April. We hope to repay the smaller creditors in the next few months, and the bigger entities, including several foreign firms, in ten to twenty quarterly installments," said Brok's deputy chairman Adam Brodowski. At the end of 2001 Holsten of Germany, the former owner of Brok, had capitalized the company with zl.60 million. (Puls Biznesu, p. 4) M.T.