January 24, 2020 / 7:32 AM / 25 days ago

BRIEF-Ursus Motion For Accelerated Arrangement Proceedings Is Rejected By Olsztyn Court

Jan 24 (Reuters) - Ursus SA w restrukturyzacji:

* SAID ON THURSDAY IT HAS RECEIVED OLSZTYN COURT’S DECISION REJECTING THE COMPANY’S MOTION TO OPEN ACCELERATED ARRANGEMENT PROCEEDINGS

* COURT SAID ITS DECISION IS DUE TO THE LACK OF A FINALLY BINDING TERMINATION OF EARLIER ACCELERATED ARRANGEMENT PROCEEDINGS AND THE CONTINUATION OF SUCH PROCEEDINGS BEFORE THE COURT IN LUBLIN

* THE COMPANY INTENDS TO TAKE ACTION SO THAT THE ONLY RESTRUCTURING PROCEEDINGS TAKING PLACE WITH REGARD TO THE COMPANY ARE THE ONES TO BE OPENED THROUGH THE FILING OF A NEW MOTION TO THE OLSZTYN COURT

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Further company coverage: (Gdansk Newsroom)

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