JGA advises a debtor in the proceedings to open restructuring in order to conclude partial arrangement

The JGA team advised a debtor in the proceedings for opening restructuring due to its insolvency risk. The debtor is a company operating in the financial industry, primarily providing factoring services.
Having analysed the legal and economic situation of the company, it was decided to file an application for the opening of a restructuring proceeding under the summary arrangement proceeding with the aim of making a partial arrangement.

Initially, the court considering the application deemed the criteria for the partial arrangement as non-compliant with the law. However, as a result of the submitted complaint, the court ultimately issued a ruling recognising the criteria for the partial arrangement as compliant with the provisions and simultaneously opened a summary arrangement proceeding for the purpose of making a partial arrangement.

The JGA team was fully responsible for preparing the restructuring application along with the preliminary restructuring plan. Adrian Dzwonek, a licensed restructuring advisor, led the advisory team from JGA.