Bankruptcy proceedings at Hydrobudowa Polska bankruptcy are moving ahead after the district court in Poznan approved the step at the beginning of the week. “It’s the beginning of the insolvency process,” says Joanna Ciesielska-Borowiec, the spokeswoman for the district court in Poznań. “After analysing all the documents, the judges have agreed that bankruptcy would be the best possible solution in these circumstances,” she added.
After delivering the verdict, the court has also gave three months to the company’s creditors to register their claims. The Hydrobudowa board reported it had fallen behind on payments of PLN 1.23bn
