Daewoo-FSO: Finance Ministry in favor of the banks

The Finance Ministry will probably allow BPH PBK, Bank Handlowy, Pekao SA, Millenium, ING Bank Śląski and KB to include the losses connected with the restructuring of Deawoo-FSO debts into operating costs. "We're working on a permanent legal solution to this problem, but in the case of Daewoo-FSO, the Finance Minister is ready to make a special, single decision, favorable for the banks-creditors" - said Deputy Economy Minister responsible for the automotive industry, Jacek Piechota. The banks could save as much as zł. 81 million on such ruling. In view of the previous declarations of the banks' representatives, the government's decisions may open the way to the restructuring of the Daewoo's zł. 591 million debt. The creditors are ready to annul half of the liability and accept payment of the other half in installments. (Parkiet, p. 1) M.K.