Glatzova & Co Advises Insolvency Administrator on Settlement to Consolidate Helske Group Assets

"Glatzova & Co advised insolvency administrator Hart & Partners on consolidating the Helske Group's assets into the insolvency estate of Helske Limited (Regional Court in Ostrava). The firm negotiated a multilateral settlement and intercreditor arrangements with creditor groups including IFIS Investment Group, Sloinvest Recovery of Slovenia and Indebitum (CMB Group), incorporating a Levoca industrial complex to be sold to satisfy claims exceeding CZK 1.6 billion."

Glatzova & Co advised insolvency administrator Hart & Partners on consolidating the assets of the Helske Group within the insolvency estate of Helske Limited, whose insolvency proceedings are pending before the Regional Court in Ostrava. The work undertaken by Glatzova & Co included negotiating a multilateral settlement agreement and intercreditor arrangements among representatives of the main creditor groups, including IFIS Investment Group, Sloinvest Recovery of Slovenia and Indebitum of the CMB Group. Following several months of negotiations, a large industrial complex in Levoca, Slovakia was successfully incorporated into the insolvency estate. The agreement represents a significant milestone in efforts to compensate creditors holding bonds and promissory notes issued by companies within the Helske Group, with claims exceeding CZK 1.6 billion. The industrial complex will be sold for the benefit of affected investors, with proceeds distributed among the creditor groups and subsequently to Helske investors. Glatzova & Co represented insolvency administrator Hart & Partners with a team composed by: Counsel Vaclav Zalud and Junior Associate David Becvar.

Glatzova & Co Advises Insolvency Administrator on Settlement to Consolidate Helske Group Assets

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