Currently, the final verification of insolvency table is being conducted by the Official Receiver while all main objections have been settled. During the last 5 years ABM Solid S.A. has undergone a thorough reorganization and is in the final stage before a Meeting of Creditors which will approve the so-called “composition.” At the turn of 2012 and 2013 the Company faced bankruptcy including liquidation of its assets and termination of operation. The process was put of halt and the bodies supervising the Company made a decision about the possibility of entering a composition. ABM Solid continues to be an interminably active business entity performing numerous contracts, also  contracts abroad. The length of the proceedings was due to a time-consuming process of determining the final insolvency table by the Bankruptcy Court. A Meeting of Creditors may be convened at the turn of the year. At this phase of the proceedings, the Company carries out consultation with a group of creditors and gathers information regarding their possible participation at a Meeting of Creditors.


“On 1 June 2017 the Board of Creditors of ABM SOLID S.A. issued a favourable opinion with reference to composition proposals of the Company accepted by the Management Board on 16 December 2016. The Board of Creditors’ approval of composition of the Company brings the Issuer closer to entering a judicial composition with the creditors.”


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