The credit committee of ECM Real Estate Investment has assigned the developer Crestyl with the reorganization of the company. A Prague court approved the restructuring in March after a year-long insolvency process. Crestyl’s job is to minimize the impact of insolvency on ECM’s position and its properties. While one of the options, favored by some, was to liquidate all the property in the company, by employing a professional property company in the process, creditors and shareholders could end up achieving a higher return. ECM REI’s management structure has been changed, including the appointment of Koleilat as a board member. ECM’s various companies will then be moved to Crestyl’s offices “in order to maximize the synergies of both teams.”
