Sanitation saved the Yamo

The computer company YAMO will survive through restructuring. The arrangement was supported by almost all creditors.

When we asked representatives of companies involved in corporate restructuring at the end of last year about successful repairs, it was difficult for them to provide even one obvious example. PMR Restructuring Company, who was the manager in the restructuring of Yamo, a company distributing computer hardware and software.

Yamo has been operating on the Polish market for 25 years. The company started with little of its own and a lot of enthusiasm. At first it sold computer hardware, then it changed its profile to distribution. It was successful. Its annual turnover reached EUR 30 million. However, the crisis in the computer industry caused it to fall into the financial difficulties. The debt amounted to several million zlotys. The company decided to take advantage of the opportunity to survive, which is provided by the restructuring law. In September 2016, the commercial division of the District Court for Wrocław-Fabryczna opened sanitation proceedings Yamo. The administrator was the law firm PMR Restructuring. The list of receivables was approved in September 2017, and the vote on the arrangement took place at the end of 2018. The process therefore lasted less than three years. The arrangement adopted at the creditors' meeting at the end of 2018 was approved by the District Court for Wrocław-Fabryczna in June. However, we do not know its details. We do know that the proposals contained in it are closely related to the company's results. It ensures that creditors will settle their due payments depending on the level of turnover and revenue that the company will be able to achieve.

It is worth mentioning that in the final vote, in which the consent of creditors representing two-thirds of the total claims is required, almost all of them voted in favour of the arrangement (100 per cent of the creditors in Groups I and IV, 87.33 per cent in Group II and 96.34 per cent in Group III).

Jacek Mońko, CEO of Yamo, does not regret the decision he made three years ago repair company.

The material appeared in the newspaper Puls Biznesu:10 July 2019:" Sanitation saved Yamo

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