2026-01-14 11:38
publication
2026-01-14 11:38
District Court for the Capital City of Warsaw The Warsaw Stock Exchange in Warsaw decided to open restructuring proceedings against Warszawska 1, which is one of the key BDC project companies, i.e. a development company from the HREIT capital group – HREIT reported in a press release.
“Restructuring is better than bankruptcy”
“This means that the court recognized rehabilitation as a more appropriate path than bankruptcy, seeing real chances for the company's continued operation and effective restructuring of the ongoing project. In practice, this solution is intended only for entities that have a real chance for recovery and continued functioning. If there were no such prospects, the only possible decision would be bankruptcy,” the statement said.
As stated, Warszawska 1 is a special purpose vehicle registered in 2020, based in Nowy Dwór Mazowiecki, implementing the Warszawska Sky development project. The investment was divided into four stages, two of which are currently being implemented – covering 276 and 356 apartments, respectively.
“The court's decision to open restructuring proceedings against the Warszawska 1 company confirms that the project can be completed. This is an important signal that instead of liquidation, the path of protecting the value of the investment was chosen – both for apartment buyers and creditors and business partners. Sanation will better satisfy the creditors' claims,” said attorney Paweł Jabłoński, HREIT's representative in the case before the commercial courts, quoted in the release.
“The opening of rehabilitation measures for Warszawska 1 is the first real step towards sorting out the situation of projects implemented by BDC and an important signal of stabilization for the entire development group,” it added. (PAP Business)
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