In Brief: IACS deal; BIG Bank & HS debt; Kama Foods; real estate fund

The Agency for Restructuring and Modernizing Agriculture (ARiMR) yesterday signed the final annex to the agreement with Hewlett-Packard for the implementation of the IACS system. The ARiMR will pay a total of euro 38.5 million for the system, which represents an additional euro 5 million saving from the price previously agreed, with 18% of the overall payment postponed until the European Union (EU) approves the system. (Parkiet, p. 4) ... The Supreme Court has ruled that BIG Bank may use funds it receives as debt repayment from the Huta Sendzimira (HS) steelworks in the first place to meet the overdue interest payments. Once the interest has been covered, the funds may then go toward repaying the original loan. BIG Bank has purchased zl.5 million of debt owed by HS to an energy distribution company. (Puls Biznesu, p. 15) ... Dresdner Bank is ready to purchase from White Eagle Industries part of its 75.2% stake in food distributor Kama Foods. Kama Foods, with debts amounting to over zl.200 million, is on the verge of bankruptcy. (Rzeczpospolita, p. B4) ... The issuing of investment certificates for Poland's first ever real estate fund, Skarbiec-Nieruchomosci, has been cancelled. Investment Fund TFI Skarbiec announced the decision after failing to generate the required minimum commitment of zl.30 million. (Parkiet, p. 7) M.T.