It was the biggest bank rescue in modern Czech history when the state
rushed to take over the country’s fourth biggest bank, IPB, as queues
formed to withdraw cash and a total collapse of the banking system
threatened in 2000. In the aftermath, a decade long legal battle with tens
of billions of crowns at stake broke out between the state, the bank’s
former owners and new bank management. Now the state has lifted the lid on
some of the secrets relating to those battles and how it fought them.