US EditionDebt Settlement Begins at the Pallas Athéné Foundation: the Kecskemét Campus Project Is Being Returned
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The asset manager of the Pallas Athéné Foundation, Optima Zrt., returned the campus project to the foundation of the Neumann János University in Kecskemét, thereby reducing its 127.5 billion forint debt to the central bank foundation by 16 billion forints.
The board of trustees of the Neumann János University in Kecskemét, which is close to György Matolcsy, gave a loan of 127.5 billion forints to the asset manager of the MNB Pallas Athéné Foundation, Optima Zrt. Optima invested this money in the Polish real estate company GTC, but GTC's share price began to fall, and Optima was unable to repay the money. The new university campus planned for Kecskemét, which was to be built by one of Optima's comp…
Before they belatedly prepare last year's balance sheet of the central bank's Pallas Athene Foundation, which is in a near-bankruptcy state, they have begun to trim the mountain of debt worth hundreds of billions.
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