Russian Intrall, which several years ago took over
the production of Lublin vans and terrain honker cars from bankrupt Daewoo Motor
Polska (DMP) of Korea, is close to bankruptcy itself. In June, it submitted a
suit to go bankrupt. A settlement with creditors was to be reached. However, the
application was rejected by the court due to formal mistakes. A new application
came to court last Monday.
“The application does not fulfill the basic
requirement. The management proposes a settlement but there are no proposals for
such. The company promises to add the missing documents as early as in
July”, Grzegorz Kister from the court said.
The management confirms
that the settlement is being prepared.
“We will present it before July
20th”, Stanislaw Szelestow, Intrall Polska CEO said.
He refused, however, to
give the value of the debts, and the number of creditors. There are several
hundreds companies, according to some sources. Among them, there is the
bankruptcy officer of DMP with PLN 2m (EUR 524,000) of claims.
Intrall is to be blamed for the present situation. The company
received license to produce cars with engines meeting Euro IV EU norms in March.
Earlier this year, it could not produce cars. The banks refused to credit
operations. Today, the company neither produces nor sells cars.
“If the
creditors agree to our proposals, we will re-launch production in fall”,
Stanislaw Szelestow said.
Intrall Polska has over 400
employees.
(PLN 1 = EUR 0.262)