We keep regularly sharing with you the progress of our actions in order to protect the interest of the iuvo investors with funds in CBC loans.
As you already know, there is a submitted claim for starting the procedure of declaring the company insolvent and a claim for initiating a procedure for restructuring and healing the company. Based on these claims and the analysis of the assets and liabilities of CBC, it was expected a decision from the court in Poland about which procedure will follow. In the meantime, we received information about submitted claims for pre-pack purchasing of CBC by two companies as a special procedure in the course of insolvency. If the purchase is completed, it will bring faster satisfaction of the creditors of CBC and limiting the devaluation of their assets in the long process of the standard procedure of insolvency.
With the new claims, the court will have to rule on the prepack purchase of the company first before it can decide whether to declare CBC insolvent or to initiate a restructuring procedure. In order to provide the best possible protection of the interest of the investors, iuvo additionally started working on the case with a leading law firm that is closely specialized in insolvency procedures.