JGA advises a debtor in the proceedings to open restructuring in order to conclude partial arrangement
JGA team advised a debtor in the proceedings to open restructuring due to the threat of the debtor’s insolvency. The said debtor is a capital company conducting business activity
in the financial sector, mainly by rendering factoring services. Having conducted both legal and economic analysis of the company’s situation, it was decided that a motion to open the restructuring proceedings in the form of accelerated arrangement should be filed in order to conclude partial arrangement.
Initially, the court considering the motion ruled that the criteria applied to separate for partial arrangement are not compliant with the law. However, as a result of a complaint, the court issued a decision in which it found the above criteria to separate compliant with the law, opening accelerated arrangement proceedings in order to conclude partial arrangement.
JGA team was responsible for the entire process of drawing up the restructuring application together with the initial restructuring plan. Adrian Dzwonek, a licensed insolvency practitioner, acted as the JGA advisory team leader.