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OKD creditors agree to pursue reorganisation, not bankruptcy

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Creditors committee agrees to pursue reorganisation of NWR coal mining unit OKD, company spokesman says. “This is very positive news for OKD, for employees and hard coal mining in the Ostrava region,” OKD spokesman Ivo Celechovsky says. Court on Wednesday rejected biggest claim by Citibank representing holders of EUR 352 mln in NWR bonds guaranteed by OKD.

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