May 30, 2018 / 10:23 AM / 25 days ago

BRIEF-Prochnik Updates On Its Bankruptcy Motion

May 30 (Reuters) - PROCHNIK SA:

* SAID ON TUESDAY THAT IN THE FACE OF GROWING LIQUIDITY PROBLEMS, THE MANAGEMENT DECIDED TO ASK COURT IN LODZ TO CONSIDER CO’S BANKRUPTCY DECLARATION MOTION

* ON MAY 18 COMPANY FILED SIMULTANEOUSLY A MOTION FOR BANKRUPTCY AND A MOTION TO PUT ITS CONSIDERATION ON HOLD UNTIL THE DECISION ON ANOTHER MOTION FOR THE COMPANY’S REHABILITATION PROCEEDINGS HAS BEEN MADE

* IT APPLIED FOR REHABILITATION PROCEEDINGS ON MARCH 27

* SAYS THE LATEST DECISION IS DUE TO PROCHNIK’S CAUTION AND ADDITIONAL CIRCUMSTANCES, WHICH ACCORDING TO THE MANAGEMENT, ENDANGER THE COMPANY’S FURTHER OPERATIONS AND LEVEL OF LIQUIDITY

Source texts for Eikon:,

Further company coverage: (Gdynia Newsroom)

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