46/2015: Court approval of Arrangement with Creditors
Further to Current Report No. 32/2015 of August 5th 2015 and Current Report No. 34/2015 of August 25th 2015, the Management Board of PBG S.A. w upadłości układowej (in company voluntary arrangement) of Wysogotowo (the “Company” or “PBG”) announces that in its Decision of October 8th 2015 the Bankruptcy Court approved the Arrangement of August 3rd−5th 2015 made between the Company and its Creditors.
The Decision is not final.
Execution by the Company and its Creditors of the Arrangement consistent with the Company’s Arrangement Proposals of April 28th 2015, published in Current Report No. 13/2015 of April 29th 2015, was confirmed by the Judge Commissioner by virtue of his Decision of August 25th 2015. In the Decision, the Judge Commissioner stated that out of the 356 creditors entitled to vote, whose claims totalled PLN 2,668,353,081.04, the majority, i.e. creditors representing PLN 2,524,530,857.86 (94.61%) of the total claims conferring voting rights, voted in favour of the Arrangement, as announced by the Company in Current Report No. 34/2015 of August 25th 2015.