October 29, 2019 / 6:59 AM / 19 days ago

BRIEF-Nextbike Polska Unit To File For Bankruptcy

Oct 29 (Reuters) - Nextbike Polska SA:

* SAYS ITS WHOLLY-OWNED UNIT NB TRICITY HAS RECEIVED FROM METROPOLITAN AREA GDANSK-GDYNIA-SOPOT TERMINATION OF DEAL FOR MANAGEMENT OF METROPOLITAN BICYCLE SYSTEM OMG-G-S

* SAYS THE METROPOLITAN AREA HAS REQUESTED THAT THE UNIT PAY 22.2 MLN ZLOTY CONTRACTUAL PENALTY

* ALSO SAYS THAT METROPOLITAN AREA HAS VOTED AGAINST ARRANGEMENT WITH CREDITORS UNDER PREPACKAGED ARRANGEMENT PROCEEDINGS

* IN A DIFFERENT STATEMENT THE COMPANY SAYS THAT AS A RESULT OF BECOMING INSOLVENT AND UNABLE TO CONCLUDE ARRANGEMENT WITH ITS CREDITORS, THE UNIT HAS RESOLVED TO FILE FOR BANKRUPTCY

Source text for Eikon:

Further company coverage: (Gdansk Newsroom)

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