April 17, 2018 / 6:46 AM / 3 months ago

BRIEF-Polkap Files Motion To Court For Rehabilitation Proceedings

April 17 (Reuters) - POLKAP:

* SAID ON MONDAY THAT IT HAS FILED A MOTION TO COURT IN BIELSKO-BIALA FOR OPENING REHABILITATION PROCEEDINGS

* AS PART OF THE MOTION THE COMPANY HAS ALSO INCLUDED RESTRUCTURING PLAN INDICATING THAT ITS IMPLEMENTATION WILL RESTORE THE COMPANY’S ABILITY TO SERVICE ITS OBLIGATIONS

* IN JANUARY CO FAILED TO BUY-BACK SERIES B BONDS ON MATURITY DATE

* SAYS THAT DUE TO THE SPECIFIC AND NICHE MARKET IN WHICH POLKAP OPERATES, IT HAS ALSO ASKED FOR A PERMISSION FOR THE COMPANY AND ITS REPRESENTATIVES TO PERFORM THE MANAGEMENT DUTIES OVER THE WHOLE COMPANY WITHIN THE SCOPE NOT EXCEEDING THE SCOPE OF ORDINARY MANAGEMENT

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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