Recredit takes cases estimated at Kz 129bn to Court

Recredit-Asset Management has brought to the court cases estimated at 129 billion kwanzas, as part of the recovery of toxic assets acquired from the Credit Savings Bank (BPC).

In addition to the aforementioned amount, 23 billion kwanzas are intended for the precautionary measures requested from the Court, according to the institution’s CEO, Valter Barros.

Also at the court level, Valter Barros said that, for two years, an insolvency procedure has been underway for a company, whose owner, considered “very famous”, is unable to pay the amount of the debt.

“After evaluating the company’s assets, we have found that it is unable to pay the amount of the referred debt in the company’s insolvency,” Valter Barros said

Source: Angola Press News Agency