Neither Tameh nor Devimex can appeal the moratorium | iRADIO

Senate President Martin Hejda stated in it that Tameh, Devimex and other Liberty creditors are not entitled to file an appeal against the restructuring court’s decision to declare a general moratorium.

The companies objected that Liberty did not meet the conditions for the moratorium. According to them, it is insolvent and, by starting preventive restructuring, it is pursuing a dishonest plan.

Liberty Ostrava, which produces steel mainly for construction, engineering and the petrochemical industry, has been having trouble paying its obligations for a long time. Most of its operations have been shut down since last December, when Tameh Czech stopped its energy supply, and most of the approximately 5,000 employees have been at home since then.

Liberty has approximately 1,300 creditors that have been protected by a moratorium since December. The moratorium protects the smelter above all from insolvency proposals and executions. At the end of February, the court dealt with the proposal to cancel the moratorium and came to the conclusion that the legal conditions for it are not met.

In March, Liberty requested a three-month extension of the moratorium, and the court granted it. Liberty stated that at the end of February, it recorded total liabilities of approximately 16.4 billion crowns.

Restructuring vote

Liberty’s creditors voted on its restructuring plan this month, and the firm said 92.72 percent were in favor of the plan. Creditors also voted on the proposal to exclude Tameh from the vote on the restructuring plan, according to the smelter, 86.65 percent were in favor. The results must be confirmed by the court.

Tameh Czech ended up in bankruptcy, which he justified by the fact that the smelter, his only customer, did not pay him. Last week, the court confirmed the resolution of the creditors’ meeting, which approved Tameha’s reorganization. Tameh states that Liberty owes him approximately 2.2 billion crowns, making him its largest creditor. Tameh’s spokesman, Patrik Schober, has previously stated that the company will object to Liberty’s restructuring plan in court.

Devimex supplies metallurgical materials such as reinforcing steel, seamless pipes and rolled sheets. For the year 2022, according to the data in the collection of documents, it had sales of approximately 144 million crowns and a net profit of over 1.5 million crowns. Sales were higher year-on-year, while profit, on the other hand, fell. In the list of ordinary creditors of Liberty, the claim of Devimex is 10.97 million crowns.

CTK

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