EuCo in sanitation
Restructuring proceedings against the compensation firm began in late October. According to preliminary estimates, the company has debts of about PLN 80 million.
Compensation law firm Europejskie Centrum Odszkodowań (EuCo) filed a motion for sanction with a Legnica court in mid-October. The court opened restructuring proceedings against it on October 30. Work is now underway to determine the status of the debt. Preliminary estimates indicate that EuCo’s liabilities to customers amount to approx. PLN 30 million. Meanwhile, EuCo’s other creditors are owed between PLN 40 and 50 million. According to assurances from Bartosz Sokol, president of Kubiczek Michalak Sokol, EuCo’s administrator, an inventory of debts and inventory and a restructuring plan should be created at the turn of the year. He believes that if the company’s liabilities were spread into installments, it would have a chance to pay them off from operations, even at 100 percent. In his opinion, the restructuring proceedings could take a year or even two years.
