Poland’s financial supervisory regulator (KNF) has opened an investigation into the liquidation of Gant, after a court in Wrocław announced this week that the housing developer lacks any capital to continue the restructuring process. At the end of last year, the court initiated bankruptcy proceedings against Gant, in a move that made it possible for the company to continue operations. But the court said this week that Gant failed to start paying off its debts, which reportedly amount to more than PLN 330m. Gant’s problems began when the company failed to repurchase PLN 2.5m in bonds.
In response, Maciej Krzysztoszek from KNF’s communication division said that the authority is already examining Gant’s case. While he refused to provide any details, Krzysztoszek stressed that Gant’s investigation is a high priority for KNF at the moment.
