On December 17, the District Court in Opole issued a decision to end the bankruptcy proceedings of Twoja SKOK w Kędzierzynie-Koźlu. After several years, it was possible to bring about a positive conclusion to the process – creditors will be satisfied in about 75%. The bankruptcy proceedings were conducted by the trustee Marcin Kubiczek.

Last week, the District Court in Opole issued a decision to end the bankruptcy proceedings of Twoja SKOK w Kędzierzynie-Koźlu. Since 2017, they have been led by the trustee Marcin Kubiczek.

Twoja SKOK w Kędzierzynie-Koźlu is a cooperative financial institution for which the Polish Financial Supervision Authority appointed a receiver in 2016. Shortly afterwards, in May 2017, the KNF (Komisja Nadzoru Finansowego) suspended the operations of Twoja SKOK, at the same time filing a motion to declare bankruptcy of the cooperative fund. A month later, the District Court in Opole declared bankruptcy of the debtor Twoja Spółdzielcza Kasa Oszczędnościowo-Kredytowa w upadłości based in Kędzierzyn-Koźle.

The bankruptcy process was not the easiest ones – there were 1408 creditors on the list of receivables, and the total amount of recognized receivables amounted to over PLN 168 million. The debtor did not have assets that would allow for the satisfaction of the full pool, but thanks to the active and effective legal actions of the qualified restructuring advisor Marcin Kubiczek, it was possible to recover and repay the vast majority of receivables in category I. As part of the implementation of the division plans, the trustee transferred to the creditors a total amount of over PLN 125 million, which means that the receivables recognized in category I were satisfied at the level of approx. 75%.