Czech Finance Minister Andrej Babiš wants to revive the bankrupt coal mining company OKD with a CZK 700 million loan. Babiš will present his proposal to the government cabinet for approval. The move would cover salaries for OKD’s 10,000 employees through August.
The Moravian mining company, which was declared insolvent in May with billions of crowns worth of debt, has been hoping to borrow CZK 1bn, according to local media reports. Meanwhile, Czech corruption police are investing the company’s financial management procedures “on suspicion of breach of trust and abuse of information and position in business,” according to a resolution published by the Olomouc High Court.
