Bank selling steel debts
Yesterday Bank Handlowy offered to sell the PLN32.3m debt owed to it by Huta Częstochowa steel concern. What is strange about this is that it is considered possible that the steel mill will be able to come to a deal with its creditors to whom it owes over PLN751m. A deal will only be possible however if the treasury bails it out with shares worth PLN35m which will allow the mill to pay its social security debts.