Module Technologies wants to carry out a simplified restructuring

The company from the construction industry is planning to carry out simplified restructuring after the accelerated arrangement procedure has been discontinued and the court in Bielsko-Biała refuses to open the cure. This procedure was introduced to support entrepreneurs in connection with the outbreak of the coronavirus pandemic.

The company had liquidity problems even before 2019, and in April 2019 it ceased to pay its receivables from bonds. There are 11 series of bonds in the register with a total value of PLN 55.6 billion.

As of 31 March 2020, the company had PLN 102.9 million in liabilities and PLN 48.6 million in equity. To date, the Company has not published a report for 2019.

Source: obligacje.pl/pl/a/module-technologies-chico-based new-restructuring principles