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Hawe will appeal against the IDA application

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Hawe's management board will within the next few days appeal against the motion of the Industrial Development Agency (IDA) to appoint an administrator to exercise corporate rights, Mediatel's press office reported. In the opinion of the company's management board, the application is ineffective, as a sanctioning procedure has been in progress at Hawe since 7 March this year and the company already has an administrator appointed.

According to the court's decision, sanitation proceedings is a main proceeding. This means that all enforcement claims are stayed until the proceedings are conducted restructuring and concluding an arrangement with creditors, the purpose of which is to repay liabilities," we read in the announcement.

"Currently, the company is working intensively on the assumptions of the restructuring plan. Recently, the Management Board, together with the creditors, submitted court application to appoint a joint administrator for all group companies covered by the restructuring proceedings. The PMR Restrukturyzacje law firm, the current administrator, was appointed as the new administrator in Hawe SA Hawe Telekom” – it was written further.

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