According to Petrol, rescuing Istrabenz is in the hands of NLB
Ljubljana, 10th December, 2009 Petrol still holds on to its proposal for voluntary settlement as the best solution for rescuing Istrabenz.
According to some media reports, Petrol has allegedly withdrawn its original proposal for voluntary settlement regarding Istrabenz. We wish to inform the public that such allegations are not true. It is not Petrols proposal that has been changed but the circumstances, particularly as regards the way a capital increase in Istrabenz, in which all owners should participate, should be carried out.
Petrol cannot issue corporate warranties on behalf of other companies - owners of this company from Koper. On the other hand, our biggest bank, NLB, could issue warranties for the successful rescuing of Istrabenz to the amount of »its« ownership in Istrabenz (shares of IB which NLB owns or holds in pledge). By acting so, the problems in connection with rescuing Istrabenz might be resolved quickly and successfully.
Petrol cannot issue warranties on behalf of other companies and expose itself in the business sense. However, in its first proposal, Petrol suggested both capital increase and additional warranties. Petrol, as the most active stakeholder of Istrabenz, continues to strive actively for a solution and offers compromise proposals acceptable to all parties, while creditor banks have not offered any unified proposal so far.
Petrol points out that, as an important though minority owner, it cannot assume all responsibility for past business decisions of the creditor banks, and continues to deem voluntary settlement as the most appropriate solution leading to the maximisation of the assets of Istrabenz.
Management Board of Petrol d.d., Ljubljana
According to some media reports, Petrol has allegedly withdrawn its original proposal for voluntary settlement regarding Istrabenz. We wish to inform the public that such allegations are not true. It is not Petrols proposal that has been changed but the circumstances, particularly as regards the way a capital increase in Istrabenz, in which all owners should participate, should be carried out.
Petrol cannot issue corporate warranties on behalf of other companies - owners of this company from Koper. On the other hand, our biggest bank, NLB, could issue warranties for the successful rescuing of Istrabenz to the amount of »its« ownership in Istrabenz (shares of IB which NLB owns or holds in pledge). By acting so, the problems in connection with rescuing Istrabenz might be resolved quickly and successfully.
Petrol cannot issue warranties on behalf of other companies and expose itself in the business sense. However, in its first proposal, Petrol suggested both capital increase and additional warranties. Petrol, as the most active stakeholder of Istrabenz, continues to strive actively for a solution and offers compromise proposals acceptable to all parties, while creditor banks have not offered any unified proposal so far.
Petrol points out that, as an important though minority owner, it cannot assume all responsibility for past business decisions of the creditor banks, and continues to deem voluntary settlement as the most appropriate solution leading to the maximisation of the assets of Istrabenz.
Management Board of Petrol d.d., Ljubljana
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