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

The JGA team advised a debtor of the IT industry in proceedings for the initiation of restructuring due to the debtor’s insolvency risk resulting from the commencement of proceedings to secure claims by tax authorities for an amount exceeding PLN 2.7 million. Having analysed the legal and economic situation of the company, it was decided that an application for the opening of restructuring proceedings in the reconstruction variant be filed. JGA lawyers prepared the restructuring application along with a preliminary restructuring plan, which included a schedule for the implementation of restructuring measures.

At the request of the court, an interim court-appointed supervisor prepared a report confirming the justification for the application to open reconstruction proceedings. As a result, in mid-March 2018, the restructuring court issued a decision opening reconstruction proceedings regarding the debtor while leaving the debtor in charge of the overall management of the company within the limits of ordinary management.

The leaders of the advisory team from JGA were Adrian Dzwonek and Wojciech Sablik.