AS Solbritt filed for reorganisation last year, and the procedure started on October 12. On the last working day of the previous year, the Tartu County Court approved AS Solbritt’s restructuring plan, which the creditors unanimously adopted. Ksenia Kravtšenko, an attorney at law from law firm LEXTAL, is the company’s restructuring advisor and will supervise the plan’s implementation.
Approval of the plan will allow the company to continue trading and pay off the debts incurred during the crisis period according to a schedule satisfactory to the company and its creditors – i.e., to emerge from temporary financial difficulties. According to the cash-flow prognosis which is an essential part of the restructuring plan, the plan is feasible and the company will restore profitability soon. Creditors whose claims are not covered by the plan will not be affected in any way by the restructuring procedure.
Read more about the restructuring of AS Solbritt here.