JGA acts as a creditor’s advisor in the reconstruction proceedings of a company operating an diagnostic imaging laboratory

The JGA team provided advisory services to VOXEL S.A., a company based in Krakow (whose shares are listed on the Warsaw Stock Exchange), as a creditor in the reconstruction proceedings of a debtor operating over 10 diagnostic imaging laboratories located in the Silesian Voivodeship.

In the restructuring proceedings, VOXEL S.A., along with other creditors, exercising the rights guaranteed by restructuring law, presented arrangement proposals, which were accepted by the creditors’ meeting.
On 10 April 2019, the restructuring court approved the arrangement.

The arrangement proposals included, among other things, the conversion of claims totaling over PLN 36 million into the debtor’s share capital and an innovative structure for the appointment of an involuntary administrator during the arrangement period due to deficiencies in the debtor’s governing bodies.

JGA’s advisory services involved in-depth legal and economic analysis of the debtor’s standing, preparation of arrangement proposals, and representation of VOXEL S.A. before the administrator and the judge-commissioner. The leaders of the advisory team were Adrian Dzwonek and Krzysztof Galwas.