ECM debtors committee led by Ceska sporitelna

E15 is reporting that Ceska sporitelna is heading up a temporary creditors committee for ECM Real Estate. The bank is owed CZK 194m by the failed developer. Volksbank, Glancus Investments and Astin Management (representing bond holders) are also on the committee. Both banks reportedly prefer a restructuring of ECM, whose long-term debts come to €165.9m. Glancus would prefer bankruptcy.

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