February 2, 2015 / 7:32 AM / 3 years ago

BRIEF-Kopahaus submits insolvency plan

Feb 2 (Reuters) - Korporacja Budowlana Kopahaus SA :

* Said on Sunday that it submitted to the Regional Court in Szczecin, Poland, proposal of an insolvency with liquidation plan

* Plans to cash in the company’s assets via a public sale of the two organised parts of the business: production and hotels, and liquidation of all the other parts of the company

* Plans to pay with the accumulated money for the insolvency proceedings and the costs of running the company in a new form over the next 12 months following the end date of the insolvency arrangement

* Plans to change its business profile from production to retail and focus mainly on western and central Europe

* The rest of the funds will be used to pay off creditors

* Plans to converse 20 pct of the outstanding liabilities of each creditor into shares of a new issue and write off the rest of the debt

Source text for Eikon:

Further company coverage:

Gdynia Newsroom

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below