DELTA legal together with PwC prepared an approved reorganization plan for LICHNA TRADE CZ, s.r.o., a Czech company engaged in mechanical engineering and metal processing.
A tough economic situation and the subsequent bankruptcy of LICHNA TRADE CZ, which the client wanted to resolve by maintaining operations and keeping as many workplaces as possible open, cost all participants a lot in preparation for the reorganization. Reorganization is a highly formalized process with many complex rules. Our goal was to provide the client with the most legally advantageous position to prepare the best financial and economic solution.
A huge amount of documents needed to be analysed in preparation for the reorganization plan. It was necessary to thoroughly examine the company’s assets and activities and to communicate everything with the creditors, many of whom had conflicting interests and used all legal steps at their disposal to enforce them. Finding a solution that was acceptable for everyone, economically viable and legally possible required not only the involvement of consultants from various areas, but also a diversified legal team, which allowed us to assess and balance all the measures considered in detail and prepare an optimal reorganization plan. We believe that not only the company but also the creditors will make the most of it. The excellent cooperation between the consultants and the client throughout the project ensured a successful new beginning for LICHNA TRADE CZ after several years of court proceedings.
“We are extremely pleased that we were able to participate in the restructuring of LICHNA TRADE CZ together with PwC,” DELTA legal partner Michal Zahradník said. “In view of the complex procedural rules, high legal requirements and coherence of various economic measures, you cannot successfully prepare a reorganization plan without the close cooperation of many experts. PwC proposed an optimal economic strategy to overcome the current crisis and ensure the future development of the company. This became the basis of the reorganization plan, which thanks to the excellent teamwork and support of the new investor was approved. We would like to thank everyone who participated in the project for their commitment and professionalism and we wish LICHNA TRADE CZ the best of luck going forward.”
Subscribe to legal news
- Be close to us - you will be the first to find out what's going on in our office or receive tips for interesting events
- Stay informed - keep up-to-date on the topics you are interested in
- Keep our advice within reach - ask us anytime about anything you need
By submitting this contact form you agree to subscribe to our Legal newsletter and to the use of your personal data (e-mail) to send it. After you log in, we will send you an e-mail message to verify the availability of your e-mail address, and after receiving confirmation you will be included in the database of Legal newsletter recipients. We will send you Legal newsletters approximately once every two weeks. Your e-mail address is safe with us and we will take care of it as long as you subscribe to the Legal newsletter. You can unsubscribe at any time by sending a request to firstname.lastname@example.org or by clicking in the footer of each Legal newsletter. We will remove your personal information from the database after the termination of communication.