TENDER RESULTS ANNOUNCEMENT

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On July 28th, 2020 the results of the tender for Huta were announced. At the court session, the trustee selected the only bid that was received on time and met all formal requirements, i.e. the bid filed by Sunningwell Steel Polska S.A. The second bid, submitted by Corween Investments sp. z o.o., was received after the deadline. In addition, the tenderer did not pay the bid deposit. The time limit for concluding a contract for the sale of a company, in accordance with the tender rules, is 2 months and shall start to run from the date on which the decision approving the selection of the tender becomes final.

THE COURT HAS APPROVED THE CONDITIONS OF THE SALE

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On 3 June 2020, in the absence of bids in the first tender, the receiver has filed at the Court the application for approval of the conditions of sale of the enterprise. By the Decision of 5 June 2020, the Judge-Commissioner has approved the tender conditions. The tender will be announced in mid-June. For more detailed information, refer to the TENDER section.

LIST OF RECEIVABLES

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On 22 May 2020, the receiver submitted to the Court the list of receivables drawn in bankruptcy proceedings of ISD Huta Częstochowa sp. z o.o. The information on submitting the list of receivables was announced in Court and Commercial Gazette (Monitor Sądowy I Gospodarczy) of 3 June 2020, no. 107/2020 (5997) on page 71, item no. 25054. The announcement and the request for an excerpt from the list of receivables  are available in the DOWNLOADS section. The request can be sent at hacz@bienioszek.pl.

THE COURT HAS APPROVED THE CONDITIONS OF SALE

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On 17 March 2020 the Creditor Committee, having familiarized itself with the valuation of the company, recommended setting the asking price at PLN 250,000,000.00. On 27 March 2020. The Receiver submitted to the Court an application for approval of the terms of sale of the company. By order of 3 April 2020. the judge-commissioner approved the conditions of the tender, which will be announced in mid-April.

Stocktaking and evaluation

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In February 2020, after less than three months, the stocktaking and evaluation of the company was completed. The stocktaking and evaluation was carried out by LEGE ADVISORS Sp. z o.o. with its registered office in Warsaw, with the active participation and great involvement of the employees of the Steelworks.