Liberty Steel submits lease offer for Częstochowa steel plant in Poland
Time:Wed, 16 Oct 2024 09:33:37 +0800
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Liberty Steel announced that it has submitted a highly competitive lease offer for the Częstochowa steel plant in Poland. The lease contract also mentioned that the company promised to pay unpaid bills and employees' salaries in September to protect the company's assets and avoid business assets subject to being mortgaged due to debt.
Częstochowa’s creditors approved the restructuring plan, so the company appealed the Częstochowa Court's decision to reopen Liberty Częstochowa's bankruptcy proceedings in the hope that the court would approve their restructuring plan.
Thomas Gangl, CEO of Liberty Steel Europe, said the lease offer was attractive and provided a solution to cash flow issues, which was also a way to preserve the jobs at the steelworks and ensure creditors received their claims as quickly as possible.
