Glatzova & Co has advised insolvency administrator Hart & Partners on consolidating the assets of the Helske Group within the insolvency estate of Helske Limited, whose insolvency proceedings are pending before the Regional Court in Ostrava.
According to Glatzova & Co, the work included negotiating a multilateral settlement agreement and intercreditor arrangements among representatives of the main creditor groups, including IFIS Investment Group, Sloinvest Recovery of Slovenia, and Indebitum of the CMB Group. Following several months of negotiations, a large industrial complex in Levoca, Slovakia, was successfully incorporated into the insolvency estate. The agreement represents a significant milestone in efforts to compensate creditors holding bonds and promissory notes issued by companies within the Helske Group, with claims exceeding CZK 1.6 billion. The industrial complex will now be sold for the benefit of affected investors, with proceeds distributed among the creditor groups and subsequently to Helske investors.
The Glatzova & Co team included Counsel Vaclav Zalud and Junior Associate David Becvar.
