Emir 75

As part of the bankruptcy proceedings of Emir 75 sp. z o. o. in bankruptcy, a difficult-to-sell asset – a shopping center – was sold, thanks to which the secured creditors were fully satisfied.

Key challenges/events:

1. Change of the bankruptcy trustee after two years of the proceedings, resulting from the degree of complexity of the factual circumstances and the situation of the bankruptcy estate and the urgent need to develop an effective strategy for conducting the proceedings.
2. There was no buyer despite five tenders being held, as a result of which the Trustee developed an asset liquidation strategy that would take into account the specificity of the asset, the possibility of its sale, as well as a whole range of other circumstances significant from the point of view of the effective liquidation of the bankruptcy estate.
3. The bankrupt’s disputes, which could have prolonged the bankruptcy proceedings for several years, were effectively extinguished by the trustee and concluded with settlements and agreements.