The Management Board of PMR Restructurings S.A. informs that the Board of Creditors of Hawe Telekom Sp. z o.o. in restructuring on 03 April 2017 adopted a resolution to dismiss the administrator in the person of PMR Restructurings and appointed in its place a restructuring advisor in the person of Wiesław Ostrowski.
The administrator, referring to the justification of the decision of the Creditors' Council, which has not been presented to the administrator so far but has appeared in the media, indicates that the remedial proceedings of Hawe Telekom achieve the goal of restoring the company's ability to operate on the market. During the proceedings, the economic situation of the company was stabilized, a list of receivables was drawn up and a restructuring plan was developed, which received a positive opinion Creditors' Council and was approved by the Judge Commissioner. Developed in sanitation proceedings financial results allowed the company to implement investments provided for in the restructuring plan from its own funds, including the launch of a modern DWDM transmission system from Huawei, which increases network capacity. Thanks to the results achieved, the interests of all creditors were secured.
Actions by institutional creditors aimed at liquidating assets Hawe Telekom are contrary to the purpose of the conducted restructuring proceedings and arouse surprise of the administrator. The results achieved in the restructuring process, restoring the company's ability to compete on the market, settling current liabilities are confirmation of the justification for implementing the restructuring program. In the Administrator's opinion, in order to cover the creditors as much as possible, it is justified to build the value of the company and increase its investment attractiveness.
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