Restructuring failure

Failure of restructuring of Gent Holding companies.

At the end of December last year, nine Gent Holding companies were announced about the opening of a simplified restructuring procedure. The ongoing repair process was not without obstacles. During it, several problems emerged, the most important of which were discrepancies in the amount of debt of the companies and several major changes to restructuring proposals. All these problems certainly influenced the final of the restructuring, which is not in line with the expectations of the companies. Creditors and the arrangement supervisor negatively accepted the arrangement proposals. This means that the companies’ restructuring proceedings have been discontinued under the law.

Source: https://www.pb.pl/gent-holding-klapa-restrukturyzacji-1116955