Ocean Company to appeal against bankruptcy ruling

The management of Ocean Company plans to appeal against the court's ba nkruptcy ruling, declaring that a potential investor, the Regional Dev elopment Agency (ARR) from Sieradz, is interested in buying the company's debts and taking it over. Meanwhile, the receiver is signalling that there are problems with selling Ocean's assets. "Annulment of the court ruling is our only chance and that is why we will use this option," said Ocean P resident Szymon Jachacz. ARR had expressed its willingness to buy the company prior to the court's decision, but it was rejected by the creditors, who were not given documentary proof that the Sieradz company had the necessary money for the transaction. "Ocean's assets are scattered across the country and are mostly industrial. Currently demand for them is low," said receiver proxy Ryszard Cytynski. (Parkiet, p. 4) M.M.