A year after the declaration of insolvency, Malina group is in bankruptcy | iRADIO

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A year after the declaration of insolvency of Energetický holding Malina, it is clear that more than half of the clients of the solar power plant will not receive from the company, they have not even received hundreds of thousands of advance payments back. The reorganization of the company failed and Malina has been in bankruptcy since the beginning of May. The bankruptcy administrator should decide on its further fate. Malina was founded in 2021 and quickly concluded over 5,000 contracts for photovoltaics and heat pumps. She had problems with the installation from the beginning.



Prague
13:29 May 13, 2024

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Photovoltaic power station located on the roofs of production halls and warehouses of Pražská strojírna | Photo: Zuzana Jarolímková | Source: iROZHLAS.cz

Jiří Skřivánek from Děčín was one of the clients of the Malina holding. But as he says, he hasn’t seen a screw from the company.

Tomáš Jeník filmed other problems with the Malina group

“We concluded the contract with Malina on September 9, 2022, she was supposed to supply us with photovoltaics. For this, we paid a deposit of more than 307 thousand crowns. The situation is now such that we gave up on Malina and signed a contract with another supplier,” he explained to Radiožurnál.

Such a solution cost Jiří Skřivánek a quarter of a million crowns more than he had originally planned. Over 2,700 Malina clients are in a similar situation today. Before the declaration of insolvency in May last year, Malina had completed the orders of roughly a thousand customers. Since then, another 1,200 have been added.

The others either – like Mr. Skřivánek – withdrew from the contract, or are still waiting to see what will happen next with the holding company. The company had to prepare a reorganization plan that would enable it to survive and complete the orders. But it failed to compile. According to the company’s crisis manager Lukáš Uhl, because disputes between different groups of creditors have escalated.

“Reorganization requires the consent and compliance of a large group of creditors. Unfortunately, this has not been possible because there are creditor groups that are fighting each other. The practical consequence would be that the resolution of the reorganization could take many months or maybe even years and might never happen,” Uhl described.

‘Absolute outrage’

The latest development is criticized by Matěj Fejlek, director of Fotovolta, which offered an alternative reorganization plan in the spring.


Malina Group deprived clients of an average of 300,000, a thousand people have already applied for insolvency proceedings

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“To carry out such a step, i.e. turning the reorganization into a bankruptcy, without the creditors being informed in advance, moreover, a week before the creditors’ meeting, where the creditors themselves should decide on the direction, we consider to be an absolute outrageousness,” Fejlek gets angry.

At the meeting of creditors, which is scheduled for Wednesday 15 May, they want to continue to explain their idea of ​​the reorganization of Malina. However, Fotovolta will probably encounter resistance from competing groups of creditors around the TnG and Iceberg companies.

According to Uhl, agreement on one plan is therefore practically impossible. According to him, the decision to send the company into bankruptcy, on the other hand, gives damaged clients a better chance of seeing the completion of their photovoltaics.

“I know that the insolvency administrator plans to compete with the company, which he will then sell or in some form transfer the contacts and that company will be able to implement the orders,” explained Uhl.

They have until June 30, 2025, when the extended deadline for reimbursement of subsidies expires. Even if everything goes perfectly from now on, Malina’s clients will pay at least one hundred thousand crowns more for photovoltaics than they expected. They will have to pay a new assembly company.

Tomáš Jeník

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The article is in Czech &&

Tags: year declaration insolvency Malina group bankruptcy iRADIO

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