Stal-Met Nieczaj

As part of the bankruptcy process, the trustee liquidated all of the bankrupt's assets, consisting of real estate and movables, and formulated as many as 27 applications for recognition or declaration of ineffectiveness of legal acts of Stal-Met performed at the pre-bankruptcy stage as ineffective with respect to the bankruptcy estate, and all applications that have been considered so far (except for one) were accepted. The trustee also sold shares in the company in bankruptcy, which should be considered a phenomenon at the national scale, and was written about by, among others, Puls Biznesu. In these proceedings, the creditors were satisfied in full.

Key challenges/events:

1. Identification of legal acts performed by the Bankrupt to the detriment of creditors on the eve of insolvency.
2. The trustee was the subject of multiple pressures from various stakeholders interested in maintaining the current model of cooperation with Stal-Met, which brought profits to specific individuals or companies and was detrimental to all creditors.
3. Liquidation of components of the bankruptcy estate located throughout Poland, including shares in a company in bankruptcy, due to the confluence of other bankruptcy proceedings.