The Slovak Poštová banka, controlled by the financial group J&T, is buying up the loans of the chemical plant Spolchemie, the most valuable undertaking of parent company Via Chem Group, from Czech banks. Any transfer of Spolchemie’s property would significantly affect Via Chem Group’s creditors, i.e. Prague 6 and Prague 10, whose blithe politicians set off down the path of risky investment with the dodgy brokerage Key Investments a few years ago.
Three Prague districts are hoping to receive Kč 62 million from non-liquid bonds issued by chemical company Via Chem Group which mature on June 1, but a shareholder in the firm claims these and other bonds issued by the firm are invalid. What is more, the brokerage that purchased the bonds on behalf of the Prague administrations has lost its broker’s license.