Continuation of the restructuring of the Bielmlek cooperative

Continuation of the restructuring of the Bielmlek cooperative

The restructuring of the Bielmlek dairy cooperative will resume.

In November 2020, the court in Białystok received an application from the court administrator to discontinue the restructuring process of the Bielmlek cooperative. The justification for its submission was the lack of funds for the restructuring proceedings. The court’s decision to discontinue the proceedings was influenced by complaints filed by the Okręgowa Spółdzielnia Dleczarska Piątnica, planning to take over the Bielmlek cooperative, and the main creditors. As a result, the restructuring process can be continued.

In order to increase the proceeds in the sanacja mass, the Creditors’ Board decided to reduce the operating costs of the cooperative, including the reduction of the remuneration of members of the Management Board and Supervisory Board.

At present, Bielmlek’s debt is close to a quarter of a million zlotys. The list of entities with which the cooperative is in arrears with payment of liabilities is long. Her fortune is estimated at PLN 140 million. This means that all debts will not be paid.

Source: https://bielsk.eu/bielsk-podlaski/30752-restrukturyzacja-bielmleku-ma-zielone-swiatlo-a-prezes-tadeusz-romanczuk-i-zarzad-beda-zarabiac-mniej

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