- The District Court in Nitra stopped the restructuring of Decodom and declared bankruptcy.
- The debtor’s financial situation significantly worsened after the restructuring was approved.
- The debtor has new unpaid obligations to suppliers after the restructuring.
- He did not pay the employees March and April wages worth almost half a million.
The District Court in Nitra stopped the company’s restructuring proceedings Decodom Topoľčany and started bankruptcy proceedings on the debtor’s property. The court decided to declare bankruptcy on Wednesday, May 27, confirmed court spokeswoman Katarína Kellerová. From the debtor’s submission submitted by the administrator in connection with the administrator’s application, the court considered it proven that immediately after the restructuring was authorized, the debtor’s financial situation changed to such an extent that the debtor is unable to fulfill his obligations within the prescribed time limits.
Based on the administrator’s request, the debtor delivered information on the debtor’s management since the beginning of the restructuring procedure on May 14. These data show that the debtor has unpaid obligations to suppliers arising after the start of the restructuring procedure in the amount of at least 240,000 euros, obligations to customers due to advances received in the amount of 645,541.97 euros, which it is unable to fulfill. Unsettled liabilities due to employees due to unpaid wages for March and April amount to 483,605.14 euros.
The debtor has outstanding liabilities that arose after the start of the restructuring procedure towards public entities (Social insurance, health insurance companies) in the amount of 276,846 euros. Unpaid receivables amount to 179,581.97 euros, partly overdue, partly due in the following months. Available funds on the account reached approximately 25,000 euros.
The debtor, mainly due to the loss of trust on the part of customers, does not have such orders from which it would be possible to expect additional income in the near future. Efforts to obtain a bank loan or other form of external financing were unsuccessful, so the debtor is unable to pay even the obligations arising during the restructuring procedure and even after its initiation creates new obligations that he is unable to pay.
Since the economic situation of the debtor does not allow to assume the successful completion of the restructuring, as confirmed by the debtor himself, delivered to the administrator the application for declaration of bankruptcy, which the administrator submitted to the court.
