Rafako restructuring
Rafako, a company providing services in the energy, oil and gas industries, decided in September to open a simplified restructuring procedure.
The decision to take corrective actions in the form of restructuring was prompted by the implementation of unprofitable contracts and the need to write down the value of assets and provisions.
Last Thursday, a meeting of creditors met and the arrangement proposals were discussed. After modifying the above-mentioned proposals, the agreement was adopted. Now the supervisor of the arrangement has to apply to the court for approval of the arrangement.
