Court Accepts Recovery Plan of ST3 Offshore

ST3 Offshore started restructuring program of the company. The application to open restructuring proceedings submitted by the new management board of the company in the District Court has been considered positively. Thereby the board has immediately withdrawn the bankruptcy petition filed by the previous management board. It enables an implementation of recovery plan and stabilization oft he company.

Court’s decision lets the factory operate normally and without any disruptions. "This is very good information for us," said Mr Andrzej Czech, the president of ST3 Offshore’s management board. "The submitted application for restructuring proceedings was assessed positively by the Court, who has also accepted the court supervisor, pitched by... ... More: Official Press Release ST3 Offshore

Keywords:

ST3 Offshore, bankruptcy, Poland, offshore