The JGA team advised the debtor in the proceedings for initiating a reconstruction due to its insolvency risk. The debtor is a company providing services such as the installation of machinery and equipment in mine undergrounds and shafts, as well as comprehensive implementation of mining shafts, headframes, and pithead buildings. Having analysed the legal and economic situation of the company, the decision was made to file an application for opening a restructuring proceeding in the form of a reconstruction plan, due to the need to utilise a specific solution provided by the restructuring law, i.e. the rescission by the administrator of an unprofitable contract, which exposed the company to multi-million losses.
As a result of the filed application, the court appointed a temporary court supervisor who prepared a report, according to which the temporary court supervisor fully supported the application. On 16 October 2020, the District Court Katowice-Wschód in Katowice, 10th Commercial Division, opened the reconstruction proceeding, allowing the legal representatives of the debtor to exercise management over the entire enterprise without exceeding ordinary management. The JGA Law Firm will also represent the debtor after the opening of the reconstruction proceeding.
Adrian Dzwonek and Krzysztof Galwas were the leaders of the advisory team representing the JGA Law Firm.
