JTT declared bankrupt for liquidation in new court ruling

JTT Computer, a domestic manufacturer of computers, has seen a court in Wrocław change an earlier ruling that the firm was bankrupt with the possibility to come to an agreement with its creditors to bankrupt for liquidation. The change, which happened yesterday, came as a result of a request submitted by the company's management, which saw no possibility of reaching an agreement with creditors concerning the restructuring of the firm’s debts. According to JTT Computer, which recently won a three-year long legal battle with the tax office, the bankruptcy is a result of Kredyt Bank allegedly taking more than zł.20 million from it's bank account illegally. Despite the new ruling, the receiver claims that there is still a small chance of saving the company and thus has expressed a willingness to support any ideas that would lead to a suitable settlement. (Puls Biznesu, p. 7) A.K.