ECONOMIC AND INVESTMENT BANK REPAID ITS DEBT TO AUSTRIAN CREDITORS
Austria Bank Creditanstalt International received DEM34.34MN from the Bulgarian Economic and Investment Bank. We have reapid our liabilities to the Austrian credit institution even on Nov. 6, announced for the Banker weekly Slavcho Christov, Chairman of the bank's Supervisory Board .
The bank turned into a debtor of the Austrian credit institution after on June 23, 2000, it bought the bankrupt Economic Bank, endebted to foreign creditors with DEM252MN. Among the creditors was Bank Austria Creditanstalt International which nominal claim stood at DEM106MN. Before purchasing the bankrupt Economic bank BRIBank (it later changed its name to Economic and Investment Bank) undertook the engagement for distributing the amount of DEM80.1MN among all creditors. That amount covered 32.4% of their receivables. DEM34.34 of them belonged to the Austrian bank.