19 февраля 201011:08
VUZ-Bank ready to make debtors go bust
OAO VUZ-Bank (Life Financial Group) normally makes about 70% of its bad debtors go bust. The bank can let a debtor have the debts restructured only in 30% of cases, the bank’s Chairman of the Supervisory Board Andrei Zolotukhin said in the course of round table discussion on bankruptcy vs. restructuring in Yekaterinburg. ‘The banks are willing to restructure the debts, but it all depends on the debtors. The borrowing parties often claim to be ready for this, but reality proves different. This is a very common thing. So the bank needs to protect its interests and to make the business undergo