Czechs, Nomura agree to drop compensation claims

30.11.2006 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

PRAGUE, Nov 30 (Reuters) - The Czech Republic has reached an agreement with Japan's Nomura Holdings <8604.T> to drop mutual compensation claims related to the failure of a Czech bank, Prime Minister Mirek Topolanek said on Thursday.

Nomura was seeking 40 billion crowns ($1.89 billion) for the state's handling of bank IPB, co-owned by an affiliate of Nomura. The bank collapsed in 2000, and the government has taken over its bad loans at the cost of several billion dollars.

The government had filed a countersuit against Nomura, demanding up to 120 billion crowns. ((Reporting by Jan Lopatka, editing by Paul Bolding; prague.newsroom@reuters.com; Reuters Messaging: jan.lopatka.reuters.com@reuters.net; +420-224 190 474)) ($1=21.21 Czech Crown)

Keywords: CZECH NOMURA/

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