Thursday , February 25 2021

The court initiated the bankruptcy proceedings of the PSJ at the proposal of the company itself

Jihlava, November 6 (CTK) – The Brn Regional Court has opened a process of insolvency in a joint stock company PSJ headquartered in Jihlava. The bankruptcy bill proposal was handed over to the construction company for the second time. In the first case, however, he prevented the proposition of another creditor whom the court had already dealt with. This procedure has been stopped. This week, the PSJ has submitted a new proposal for insolvency. He states that the company was bankrupt in the form of secondary incapacity. It notes 1464 creditors with commitments of 1.588 billion CZK. This stems from the information published in the Insolvency Register.

The company stated that its first proposal was legally considered only as a bankruptcy proceeding and that the state of the proceedings was applied to it. "So, the borrower is effectively prevented from submitting a proposal for insolvency at this time," he said in a new proposal. Therefore, the PSJ repeated the submission and proposed that the court decide on bankruptcy. Its sole shareholder is PSJ Holding, headquartered in Amsterdam.

PSJ, a.s., deals with general building materials. The court said financial losses suffered on contracts abroad and the Czech Republic and negotiations on finding the appropriate financial partner were not successful. The value of the total assets amounts to CZK 1,857 billion according to the proposal of insolvency. Net turnover in the last accounting period was CZK 3.987 billion.

According to a PSJ statement on Monday, blocking the insolvency process made it more difficult for the company to be in a situation; The PSJ filed its first insolvency appeal in the first half of September. There was a man from Ukraine who claimed that the PSJ owed 200,000 CZK. The company claimed this claim as controversial.

"We were without legal protection of the debtor," said Miroslav Fuks, PSJ spokesman, in a statement that many of our customers have stopped paying for the loan and continue to cover their expenses, including wages. He added that the Board's proposal was not related to the proposal to approve the reorganization. In an insolvency bill in September, the company said it employed 268 people.

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