CLiF rebels against treatment by Kredyt Bank

Following six months of unsuccessful negotiations over a debt restructuring scheme between Centrum Leasingu i Finansów (CLiF) and its creditor Kredyt Bank (KB), the leasing company has decided to submit a motion to the Banking Supervisory Commission (KNB) requesting that the Commission takes KB to court on bankruptcy charges. CLiF has to work through the KNB as it cannot begin bankruptcy proceedings against a bank on its own. The request is a result of a conflict between the two companies, which in 2001 led to the announcement of CLiF's bankruptcy. Dariusz Baran, CLiF's president, claims that during this conflict the bank took over a greater value of CLiF's assets than the value of owed liabilities. "We have not received any official information concerning the submission of the motion by CLiF. We have leant about it from unofficial sources and think it is very odd. It is probably an attempt to stop us from trying to receive its claims. If this turns out to be the case we will consider taking further legal against CLiF," announced Paweł Janowski, the director of KB's restructuring and vindication department. (Puls Biznesu, pp. 1, 4) A.K.