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Glatzova & Co Advises Kara Trutnov on Reorganization

Glatzova & Co Advises Kara Trutnov on Reorganization

Czech Republic
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Glatzova & Co has advised Czech apparel and fashion company Kara Trutnov on the approval of the reorganization plan within its insolvency proceedings.

The reorganization plan was prepared by Kara’s creditor, the Natland investment group, and was approved by the Hradec Kralove Regional Court on November 8, 2021.

The court’s decision "means, among other things, maintaining the company's operations," Natland informed. "In addition, Natland still intends to finance litigation against certain persons responsible for Kara's bankruptcy in order to obtain the proceeds for unsecured creditors."

According to Glatzova & Co, "although the court decision approving the reorganization plan is not yet final, we dare to assume that Kara Trutnov’s business is preserved and the creditors will receive payment for their receivables within one year of the commencement of insolvency proceedings."

The Glatzova & Co team was led by Partner Martin Dancisin.

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PRK Partners, one of the leading Central European law firms, has been helping clients achieve their business objectives almost 30 years. Our team of lawyers, based in our Prague, Ostrava, and Bratislava offices, has a unique knowledge of Czech and Slovak law and of the business environment. Our lawyers studied at top law schools in the United States, United Kingdom, Switzerland and elsewhere. They also have experience working for leading international and domestic law firms in a number of jurisdictions. We speak your language, too. Our legal team is fluent in more than 15 languages, including all the key languages of the region.

PRK Partners has one of the most experienced legal teams on the market. We are consistently rated as one of the leading law firms in the region. We have received many significant honours and awards for our work. We represent the interests of international clients operating in the Czech Republic in an efficient way, combining local knowledge with an understanding of their global requirements in a business-friendly approach. We are one of the largest law firms in the Czech Republic and Slovakia. Our specialised teams of lawyers and tax advisors advise major global corporations as well as local companies. We provide comprehensive legal advice drawing on our profound knowledge of local law and markets.

Our legal advice delivers tangible results – as proven by our strong track record. We are the only Czech member firm of Lex Mundi, the world's leading network of independent law firms. As one of the leading law firms in the region, we have received many national and international awards, in some cases several years in a row. Honours include the Chambers Europe Award for Excellence, The Lawyer and Czech and Slovak Law Firm of the Year. Thanks to our close cooperation with leading international law firms and strong local players, we can serve clients in multiple jurisdictions around the globe. Our strong network means that we can meet your needs, wherever you do business.

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