Of Special Interest
20th December 2011
Monte Paschi foundation in debt standstill deals
Monte Paschi foundation has reached debt standstill with some of its creditors and hopes to reach similar arrangements with the remainder. The standstill is for 3 months ending March 15th 2012. The purpose is to allow it to develop acceptable debt restructuring plans with all of the creditors covering the medium term.
The foundation controls Banca Monte dei Paschi di Siena and the Montepaschi Group.