There will be no restructuring of Tenczynek Dystrybucja
The court refused to initiate accelerated arrangement proceedings for Tenczynek Dystrybucja.
Last week, the commercial court in Lublin rejected the application submitted by Tenczynek Dystrybucja to open accelerated arrangement proceedings (PPU). The court justified such a decision by the existence of justified doubts about the possibility of harm to creditors due to the lack of prospects for concluding and implementing the arrangement. It is worth recalling that the above-mentioned application was submitted in mid-January and its submission resulted from the failure of the previously initiated proceedings for the approval of the arrangement (PZU). PZU was discontinued as a result of failure to obtain the required majority of creditors’ votes to accept the arrangement.
It cannot be forgotten that the owner of Tenczynek Dystrybucja, namely Manufaktura Piwa Wódki i Wina, is struggling with similar problems. In February, the Krakow commercial court rejected the arrangement adopted as a result of the ongoing restructuring proceedings.
