CBC: What’s next?

Nearly a year ago, the Plan for restructuring of CBC was submitted for approval to the court in Poland, however, the approval has not happened yet. It is expected that the Judge overseeing the case will approve the Plan for restructuring.

The next step after the approval is all creditors to vote on the arrangement proposals, which will put an end to the restructuring proceedings and will start the cashing out of CBC’s assets.

In order for the arrangement proposals to be voted on, a number of already initiated court cases, which aim to collect more receivables, must conclude first. This process is expected to continue for another 10-12 months.

Even though iuvo and the other creditors have to wait for the aforementioned lawsuits to conclude, right after the Plan for restructuring is approved, the Administrator will try to sell the first batch of receivables of CBC, the funds of which will be added to the already collected assets.

Iuvo continues to fight for the recovery of invested funds in loans of CBC. We will once again make an update on the progress of the lawsuit in a timely manner, as soon as we have new information.