News
22.12.2014
Mriya asks creditors to sign standstill agreement until Jan 30
Mriya agroholding asks creditors to sign a standstill agreement until the end of January 2015, aimed to cease aggressive action against the company until restructuring talks are over.
The company stated as part of a press released on Monday that most creditors do not act in coordination, which has a negative impact on the company's operating activity, and is an obstacle towards agreeing restructuring terms.
Mriya says that certain creditors continue taking measures to return their share of debt. In particular, the Erste Group demands that the majority stockholder in Mriya, HF Assets Management Limited, be recognized as bankrupt.
Mriya shareholders are ready to transfer their rights of ownership of the Cyprus-based holding company to a 'special purpose vehicle,' which will be owned by either a majority of the creditors (banks and bondholders) or authorized representatives (credit committees). What is more, Mriya's owners are ready to call an extraordinary general meeting of the Cyprus-based holding company and replace board representatives with creditors.
