Thursday , February 25 2021

"Iron and Steel" agrees to repay debts to Banque Misr



Iron and steel company has agreed to repay debts to Banque Misr.

Mubasher statement announced on Tuesday that the Egyptian company has agreed with Banque Misr to settle the debt for payment by the bank, acquiring a plot of land and part of the company's shares, and reducing all interest and part of the debt, of which another $ 6 million.

This was at the meeting of Chairman of the Metal Industries Holding Company Medhat Nafeah at the meeting of the Egyptian Bank's Chairman, Mohamed Al-Atrabi, with a view to agreeing a protocol for settling bank receivables with the Egyptian Iron and Steel Company.

It is worth mentioning that the problem is related to 3374 cases and no cases. 295, in which the court issued a final judgment on the company to pay bank debts of approximately $ 58.7 million, with no interest at a value of $ 9 million.


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