NAMA STORE CHAIN STILL WITHOUT SOLUTION

ZAGREB, April 27 (Hina) - Representatives of the Croatian Economy Ministry, the Croatian Privatisation Fund, the trade union and management of the NAMA store chain, Privredna Banka Zagreb, and suppliers at Thursday's meeting failed to decide whether NAMA should file for bankruptcy or undergo financial rehabilitation according to a proposal by the management. The management's rehabilitation programme "was not accepted because some of the participants in the meeting did not have a mandate, for example the representatives of Privredna Banka, which is asked to write off a 170 million kuna debt," Economy Minister Goranko Fizulic told reporters after the meeting. The minister said NAMA's management had also failed to clearly state the creditors' claims. "A solution should have happened. We expect all interested parties will state their position in ten to 15 days, especially the management, which has to submit complete data," he said. Fizulic told NAMA employees to consider an Economy Ministry proposal according to which the ministry would write off 55 million kuna of its claims, redirecting them for dismissal wages for about 1,000 workers who will lose their jobs as a result of bankruptcy. NAMA would then resume operating. Asked if after today's meeting NAMA was closer to bankruptcy than before, the economy minister said, "We are constantly equally distant." Unhappy with the outcome of the meeting, Mario Ivekovic, a representative of one part of NAMA's workers, said the government's officials were making small efforts, leaving everything on the NAMA management's back. (hina) ha jn