Approximately one hundred cases deal with still functioning companies, and the remaining cases deal with claims of bankrupt companies.
The Bank Assets Management Company (BAMC) introduced their present activities and plans for future. Torbjörn Mansson, Executive Director of the 'bad bank', explained that besides those 426 cases from NLB and NKBM, they took over claims of the liquidated Probanka and Factor Bank. They are expecting the go-ahead for take-over of bad claims of the third largest Slovenian bank, Abanka.
Following the plan for restructuring, confirmed by the European Commission, they intend to transfer from the bank to BAMC claims corresponding to the transaction value of up to 446 million euro, or 1.09 billion euro of gross book value. Later they are expected to take over also bad claims of the Celje Bank.
Thus they have taken over the assets in the amount of 3.3 million euro from the two largest banks, the real value of which at the moment of the transfer of claims amounted to approximately 690 million euro. Yet the real value of the claims is lower by at least 30 million euro, which has been expected according to Mansson.
Loss smaller than predicted
The original calculations showed that the bad bank loss last year amounted to 81.9 million euros. Revised data showed that the loss added up to (only) 5.8 million euros. Mansson justified the loss with occurrence of operating expenses. In the first half of this year BAMC created the loss of 7.7 million euro.
BAMC has until now managed to reimburse 65 million euro, mostly through sale of insurances. Mansson also said that in approximately 100 cases of bad claims taken over from two largest Slovenian banks they intend to get those back by restructuring, and other measures within still functioning companies. In other cases we are talking about a 'sad story', as those are claims of companies which ended in bankruptcy and it would be difficult to predict the value of their estate in the end.
BAMC intends take over sale of real estate
The second Executive Manager of BAMC Janez Škrubej said that BAMC presently owns 40 real estate properties in the value of 15 million euro, the rest is a part of claims towards bankrupt companies or still functioning companies. "It is in our best interest to keep the functioning companies in operation. Therefore we hope that they will not end in bankruptcy proceedings, following which we would have to take over their real estate," Škrubej explained.
BAMC will strive to get the pledged real property owned by company in bankruptcy procedure into their possession, as it happened with Celovški dvori and Nokturno, and thus try to raise its price compared to the price expected to be achieved by official receivers.
No news regarding Pohorje cableway
BAMC representatives gave a rather scarce comment on complications with the Maribor municipality regarding Pohorje sports centre under the threat of bankruptcy. They said they were trying to find the best possible solution for ŠC Pohorje, but their mission is also to get as much money from the assets which are now the property of the bad bank.
Škrubej said they are pushing for the operation of Pohorje cableway during the coming winter season, but the BAMC suggestions have not been accepted.
Gregor Cerar
Translated by G. K.
