November 6, 2018 / 7:41 AM / 7 days ago

BRIEF-Qumak Receives Decision Of Restructuring Court

Nov 6 (Reuters) - QUMAK SA:

* SAID ON MONDAY IT RECEIVED DECISION OF RESTRUCTURING COURT IN WARSAW

* THE DECISION STATES THAT CRITERIA CHOSEN BY THE COMPANY FOR SEPARATING CREDITORS COVERED BY PARTIAL ARRANGEMENT IN ACCELERATED ARRANGEMENT PROCEEDINGS ARE NOT IN LINE WITH THE LAW

* SAYS THE CRITERIA HAVE NOT BEEN ACCEPTED BY THE COURT WHICH AT PRESENT MAKES OPENING ACCELERATED ARRANGEMENT PROCEEDINGS IMPOSSIBLE

* CO FILED MOTION FOR ACCELERATED ARRANGEMENT PROCEEDINGS IN OCT. AND SUBSEQUENTLY FILED MOTION FOR BANKRUPTCY

Source text for Eikon:

Further company coverage: (Gdynia Newsroom)

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