Habitat AMCI quadruple their losses in 2009n
Habitat AMCI quadruple their losses in 2009, to 34 million.
Barcelona, Mar 19 .- Habitat AMCI, the real estate controlled by the insurance company Grouping Mutua, has quadrupled its losses in 2009 to 34 million euros, compared to about seven million red numbers in the previous year, according to today informed the Commission Nacional del Mercado de Valores (CNMV).
The bad data comes mainly from a negative EUR 33, aika gold, million on "continuing operations" of the company, which also quadrupled its negative outcome of the previous year.
The operating results have been another factor causing the poor performance of the real estate company, lost 17.5 million.
The company closed 2009 with a negative net worth, so this debate the measures necessary to restore the balance, sto credits, of its net worth through a capital increase or the capitalization of loans Mutual Grouping The adoption of any of these measures requires the authorization expresses the Direccion General de Seguros (DGS), so managers Grouping Mutual filed a formal request to the DGS to convert existing loans into equity loan, so as to free up collateral for certain, sto credits, financial institutions, which would allow convert these credits into capital.
The developer has stated that the request is still pending.
Moreover, the poor state of AMCI Habitat was one of the reasons that trigger Grouping Mutual, the largest mutual Cataluna, was intervened by the Central Office of Insurance in October of last year.
The insurer is mentoring a process of selling assets of AMCI Habitat that is minimally detrimental to shareholders.