The Polish builder Polimex-Mostostal has one week to convince two of its loan holders to approve a debt restructuring. Raiffeisen Bank Polska and Royal Bank of Scotland have so far refused to accept the restructuring agreement, according to the business server parkiet pl, while BNP Paribas has refused to make any commitments.
To stay afloat, Polimex-Mostostal need to reach an agreement with the banks by next Monday. If it deal can’t be reached, Polimex would have to declare bankruptcy. Polimex’s net loss reached PLN 370.9m in the first half of the year.
