Bankruptcy News
September 9, 2019 / 6:05 AM / 3 months ago

BRIEF-Ursus Says Plans To Appeal Against Decision To Discontinue Arrangement Proceedings

1 Min Read

Sept 9 (Reuters) - Ursus SA:

* SAID ON FRIDAY THAT ON SEPT. 5 IT RECEIVED A COURT DECISION DISCONTINUING THE COMPANY’S ACCELERATED ARRANGEMENT PROCEEDINGS

* SAID THAT THE COURT HAS NAMED DELAY OR NOT SETTLING CURRENT OBLIGATIONS, HIGH TURNOVER IN COMPOSITION OF THE MANAGEMENT BOARD AND TOO SLOW COSTS RESTRUCTURING AS REASONS TO DISCONTINUE THE PROCEEDINGS

* SAID THAT IT PLANS TO APPEAL AGAINST THE DECISION

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