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RBC, 29 Oct 1999, Moscow 11:05:12

ARKO To Consider SBS-AGRO Restructuring Today


Today the Russian bank restructuring agency (ARKO) will continue consideration of the SBS-AGRO bank restructuring. During a session on October 27 ARKO discussed the following three ways of restructuring the bank: to declare the bank's bankruptcy, to create Posselkhozbank on the basis of SBS-AGRO with the participation of its shareholders or to create Posselkhozbank without the participation of the shareholders of SBS-AGRO. The previous session of ARKO was interrupted and postponed because First Deputy PM Victor Khristenko was too busy and in addition it was necessary to get more detailed information on the finance situation in SBS-AGRO.