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31 May 2012
Frankfurt am Main, Germany
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20 June 2012
London
Orco wins bank loan extension, nears court bond ruling
Troubled Czech developer Orco Property Group has renegotiated and extended all loans from 33 banks, totalling over E1bn, says a senior official. Even if the company is not free of problems yet, it will be able to survive and has good chances to have a bond repayment scheme approved by the Paris Commercial Court this month and to lift its court protection order.(Register now to read PIE 153)