Investment bank wants car company declared bankrupt
Invest-Bank is to file for receivership of Polskie Towarzystwo Samochodowe
Konsorcjum Spoldzielcze (PTS KS). Invest-Bank has invested zl. 25 million in
PTSKS and is now unable to get its money back The chairman of PTS KS
Wlodzimierz Majewski says the company has no money available to return to
the bank as all its assets are tied up in investments, but is open for
negotiation. However, it is not going to sell its assets at half-price. PTS
KS has 78,000 employees working in numerous smaller companies. Bankruptcy
would mean many of these companies would have to close down. PTS KS is one
of the most important institutions in the Auto-Kredyt Polska group created
by Piotr Bykowski and last year it had assets of zl. 970 million.
(Rzeczpospolita, page 1) J.K
