WKB advised PKO Bank Polski on restructuring the debt of Huta Pokój S.A., a manufacturer and distributor of steel products. This complex and multi-faceted process was run by our banking and finance team, with Marcin Smolarek supervising the case and Michał Kalicki and Sebastian Łyś acting as lead lawyers.
The advice included months-long negotiations concerning the conclusion of a complex agreement for the restructuring of Huta’s over PLN 200 million debt between two of its main creditors – the Bank and Węglokoks S.A. (Huta’s shareholder), setting out the terms of the repayment of Huta’s debt in the subsequent years, and of the documentation changing the existing securities and establishing new ones.
As part of mutual settlements, Węglokoks is to acquire the company Huta Pokój Profile sp z o.o. (a manufacturer of cold-rolled and hot-rolled products) from Huta Pokój.
As a result of the conclusion of the agreements, the entire debt of Huta’s productive assets has been cleared.