Court rejects Ruch’s arrangement procedure
16:02
A court has refused to approve the proposed arrangement agreements between press distributor Ruch and its creditors, which were prepared by Alior, PKN Orlen and PZU. The court’s decision is not related to the accusations leveled at Ruch by its competitor in the press distribution market, Garmond Press. The latter company filed a complaint with the European Commission (EC) in which it claims that state-controlled companies involved in the arrangement procedure – Alior, PKN Orlen and PZU – granted almost PLN 0.25 billion of unlawful public aid to Ruch. Ruch is now on the brink of bankruptcy.
