This procedure was agreed upon by the Regional Court in Budjovice, Esk. This court sent the JHMD company into bankruptcy twice, but its decision was overturned by the High Court in Prague.
The regional court in Budjovice, Czech Republic, allowed the reorganization of the company, said judge Zdenk Strnad today. Vitel Jan Kysela stated that within 120 days a full reorganization would take place.
The JHMD company has been bankrupt since January 2022, when the train stopped operating. A debt of 350 million crowns, based on accounts receivable. Trains could run again from June, said insolvency administrator David Jnok. It follows from the expert opinion that the company could be sold for 121 million.
The Jihoesk region is ready to order the daily operation of a train on a roller coaster with a carrier that will be fully licensed. The region allocated 5 million for this this year, said South Bohemian Governor Martin Kuba (ODS). Jihoesk kraj and Vysoina provide replacement bus transport along the route.
As I was not surprised by the reorganized proposal – and I still think that the municipality will not approve it (purchase) – so all my doubts disappeared. It is essential that the debt is paid, said judge Zdenk Strnad.
The proposal was presented by the leader Jan Kysela, who was only led by the JHMD and its actions. He stated that the aim is to restore operations and transfer the assets to the sole entity to ensure sustainability.
State representative Michaela Hojdarov declared that the proposal has a genuine structure and purpose. A strategic investor, the company good thing, would buy from JHMD one hundred assets, real estate and a 100 percent stake in JHMD’s subsidiary company, Sprva zkolejnech dráh. “It is clear that we would negotiate with the municipalities,” said Kyselv attorney Michal ilavsk.
In the first phase, the judge doubted whether the municipalities would have enough pensions to buy roads. Sentor Jaroslav Chalupsk, who is also the representative of Jindicho Hradec (Hradec with heart and mind), shared that the reorganized proposal contains li. Municipalities from the Jindichohradeck railway association gave 100 pennies for a safety certificate for the operation of the railway, which was submitted by the Railway Authority to Drnmo ad on Tuesday. Trains can be operated during the day.
The representative of the company Swietelsky Rail CZ, which has a turnover of 2.5 billion, said in court that the company would buy some cars from JHMD. This company thus has a share of the track, but not the operation.
The 100% owner of the good thing company, which was established in November 2022, is the WTT company. In addition to that, I will take the operation of the tracks. The company Gepard Express and one Polish company can ride on the roller coaster, Jnok specified.
According to him, there are two Czech companies and one foreign company that I want to buy. The good thing company was created in order for the WTT company to obtain a license for passenger transport, its representative Ji Vokoun described in court.