HAWE SA (hereinafter referred to as the "Company") hereby announces that it has been informed that on 21 September 2016, the Board of Creditors established in the Company's restructuring proceedings adopted a resolution on the dismissal of the previous Administrator, Mr Wojciech Makucia, and the appointment of a company under the name of PMR Restrukturyzacje SA with its registered office in Warsaw to perform the function of the Administrator of HAWE SA, as well as a resolution on the justification for continuing the Company's restructuring proceedings. In accordance with Article 136 Section 2 and Article 455 Section 2 of the Act...

Restructuring advisors from PMR Restrukturyzacje SA inform about the doubts of public companies in making decisions on restructuring. This concerns the obligation to publish information about the submission of a restructuring application to the court in the event of a threat of insolvency. The problem concerns many companies in Poland. When a public company makes a decision on restructuring, it must immediately publish this information in accordance with the information obligation of companies listed on the WSE. The court, adopting...

Since tax fraudsters are elusive to tax offices, all those operating in the same industry become suspects. Now, it is Piotr Bieliński, whose company Action is to pay PLN 90 million. Are we in for a new Optimus case? When Piotr Bieliński first withdrew Action's earnings forecast over a year ago, investors did not expect such a tragedy. Action was a giant in electronics distribution, the most profitable company in the industry, with 5...

Why are companies increasingly deciding to restructure their operations? It provides companies with the widest available scope of protection against creditors, as well as the largest number of legal instruments dedicated to operational and financial restructuring. After opening the restructure proceedings, none of the creditors can conduct enforcement proceedings. According to Anna Maria Pukszto from the Dentons law firm, the number of restructure proceedings on the stock exchange will increase. Entities whose securities are traded...

FITEN SA, which operates on the electricity and natural gas market, published a report for the first half of 2016, in which, in addition to revenue growth, it showed a loss caused by, among other things, the difficult situation on the wholesale market. In order to protect the Company and its stakeholders, the Management Board decided to restructure the entity. As it emphasizes, the current situation will not affect the implementation of deliveries to end users, which will proceed without disruption. - The main assumption of the planned restructuring...

Dear Clients, Shareholders and Partners, on August 10 this year, the District Court Katowice-Wschód in Katowice decided to open restructuring proceedings against FITEN SA upon the Company's application filed on July 29 this year. The decision to launch the restructuring process was dictated by the need to protect the Company and its stakeholders in the face of the cumulative effects of unforeseen events and their expected adverse impact on the future financial condition of the Company. The aforementioned events...

The administrator in the Kerdos restructuring proceedings, PMR Restrukturyzacje, is constantly working on improving profitability in the Dayli drugstore chain, which belongs to Kerdos. - We have reduced costs, also by streamlining logistics. The dynamics of sales results in June and July are better than in previous months, which allows for moderate optimism for the coming months - Maciej Roch Pietrzak, president of the PMR Restrukturyzacje law firm, tells "Parkiet". He does not hide the fact that...

On August 1, 2016, the District Court for the Capital City of Warsaw in Warsaw, 10th Commercial Division for Bankruptcy and Restructuring Cases, opened restructuring proceedings against ACTION Spółka Akcyjna with its registered office in Warsaw (KRS 0000214038). The largest Polish distributor of computer equipment – Action SA, is being advised in the restructuring proceedings by Restructuring Advisors from PMR Restrukturyzacje SA with its registered office in Warsaw.

The application to close the restructuring process was filed a month ago by the company's administrator. In June, Wojciech Makuć, the administrator in the Hawe reorganization proceedings, indicated that the debtor's behavior indicated that the arrangement would not be implemented. On Monday, the court granted the application. After the reorganization is discontinued, Hawe's liquidation bankruptcy is becoming increasingly likely. However, as reported by Puls Biznesu, the company intends to file an appeal against the court's decision. However, the...

We teach young entrepreneurs how to start a business, but we do not teach how to get out of trouble. When it comes to restructuring proceedings, you need to know that they are diverse and are adapted to different stages of problems. Unfortunately, the awareness of entrepreneurs in Poland in this respect seems to be low. - Elementary knowledge of restructuring procedures should be in the awareness of entrepreneurs. The turning point, when you have to think about initiating restructuring proceedings...