With reference to Current Report No. 8/2018 of March 16, 2018 on filing an application for bankruptcy including the liquidation of INTERBUD-BUDOWNICTWO S.A (Subsidiary), the Management Board of INTERBUD-LUBLIN S.A. (Issuer) informs that on October 11, 2018, it received information about the receipt by the Subsidiary of the decision of the District Court Lublin-Wschód IX Economic Department for bankruptcy and restructuring (Court) of 4 October 2018 rejecting the application submitted by the Subsidiary referred to in the abovementioned current report No. 8/2018.
In its justification, the Court stated that the evidence collected in the case does not give grounds for dissolving the Subsidiary without conducting liquidation proceedings within the meaning of art. 13 para. 2a of the Bankruptcy Act. Taking as a basis art. 13 para. 1 of the Bankruptcy Act, the Court ruled that in its opinion the Subsidiary did not show that it had sufficient assets to cover the costs of bankruptcy proceedings. The decision of the Court is not legally binding and is not appealed against.
Automatic translation of the announcements.