JGA acted as an advisor to the debtor of the construction industry in proceedings for the initiation of restructuring in the arrangement variant

JGA team advised a debtor of the construction industry in the proceedings for the initiation of restructuring due to its insolvency risk. Having analysed the legal and financial situation of the company, the decision was made that an application for the opening of restructuring proceedings in the arrangement variant be filed.

JGA lawyers prepared the restructuring petition along with a preliminary restructuring plan, which included a schedule for implementing the restructuring measures. Necessary actions were also taken to secure the debtor’s assets by suspending ongoing enforcement proceedings and lifting account garnishments.

At the request of the court, a temporary court-appointed supervisor prepared a report confirming the justification for opening the arrangement proceedings. As a result, at the end of December 2017, the restructuring court issued a decision on the commencement of the arrangement proceedings against the debtor.

The leaders of the advising team from JGA were Adrian Dzwonek and Marta Wolny.