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Vtkovick Heavy Machinery goes bankrupt, the company crashed coronavirus

More than 1.7 billion crowns owed the company to its creditors Vtkovice Heavy Machinery (VHM) from the CE Power Industries group of Jaroslav Strnad.

He owns 51 percent of the shares in the company, the rest is controlled by E-Invest the recently deceased lobbyist and billionaire Martin Ulk.

According to both companies, they won the sweat, which tried to save the VHM at a time when they got into trouble to go in the field of engineering Vtkovice Jana Svtlka. But then the project to the rescue stalled. After the completion of the reorganization last year, production began, but this year the sawmill gave problems.

The company VHM was again sent into insolvency, manaei suggested put a reorganization. The vendor at the hard meeting was supposed to decide on her drink.

On Wednesday, however, VHM withdrew its reorganization proposal. The reason is, depending on the economic situation, also influenced by coronavirus. The pandemic and the restrictive measures associated with further reduced production activities and thus also the decline in income and the deterioration of the economic situation of the long-term, states in the document, in which the management of VHM withdraws its proposal for reorganization.

From the latest suggestions of some of our prominent creditors, we have found that we do not have their support for our reorganized measures. With regard to the above, we take our proposal for the permitted reorganization back, added the talk of VHM Jaroslav Martnek.

In practice, this means that the company is bankrupt. Judge David Stoek stated the same at the hearing. Dlunice withdrew its reorganization proposal. There is now no other way to bankruptcy, the judge said during the meeting.

Spolennost ek na novho investor

The insolvency administrator Luk Zrst also agreed with the judge. The economic debtor has been affected by the covid epidemic, the debtor is not able to cover its operating costs and make a profit. In the weight of the insolvency type, stated the insolvency administrator.

For the company, this means telling whether to find an investor and buy the company, or whether the company’s dissolution and its equipment. Urit recipients are here, but nothing specific, commented Luk Zrst on the situation around VHM.

In insolvency, the creditors together total more than 1.7 billion crowns.

The total in the registered receivables in the amount of 1.751 billion crowns, of which the total in the registered unsecured receivables in the amount of 1.19 billion and the total in the recorded unsecured receivables in the amount of 554 million crowns, the bonds of the insolvency administrator. According to him, most of the unions arose during the last insolvency.

It is produced in only one company

The company is currently limited in production. But the unions are very careful.

We will receive the payments, but now the production will only be in one company, the situation in VHM was enhanced by the expert Jana Schindlerov.

The rest of the employees now choose leave, what will be long, we do not know. It will depend on the court’s decision and the creditor, it will depend on who will be the new owner, she added.

According to the expert, about 300 employees now work in VHM, and the people are leaving, she told. It is fortunate that there are several companies going around in the area, which they accept, so it is not so easy to find work, she concluded.


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