Creditors of the Czech development company ECM will welcome today’s news that they are to receive at least some of the money they are owed. The company fell into bankruptcy and its assets are being liquidated by an insolvency manager. It’s been decided by the courts that creditors will be receiving CZK 553m, with CZK 347m of that to be disbursed immediately. That amounts to 12.2 percent of the amount creditors were owed. In a previous payment, creditors received CZK just over 17 percent of their debts. The biggest gainer (having lost the most) is Astin Capital Management which can expect a check of CZK 203m to arrive soon. A co-founder of the company, Karl Hauptmann, has been awarded CZK 3.6m.
