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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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HAVEL & PARTNERS, attorneys-at-law, with offices in Prague, Brno, Bratislava, Pilsen, Olomouc, and Ostrava, has a team of 250 lawyers, tax advisors and 500 employees in total, is the largest independent law firm in Central Europe.

Our clients include large international companies, leading Czech and Slovak firms, including strategic state-owned companies and public sector authorities, as well as medium-size businesses, individual entrepreneurs, and investors. We advise approximately  150 of the Fortune 500 companies, almost 50 of the Czech Top 100 companies and 20 of the TOP 100 Slovak companies. HAVEL & PARTNERS currently provides its services to a total of 2,500 clients. We have the most comprehensive international support available to both Czech and Slovak law firms. We provide legal and tax advice in 12 languages in more than 110 countries around the globe. Up to 70 % of the transactions we deal with involve an international aspect.

HAVEL & PARTNERS was named the best law firm operating in the Czech Republic by the prestigious global rating agencies Chambers and Partners (2020, 2021) and Who’s Who Legal (2018, 2019). It is also the most successful law firm, providing the most comprehensive legal services in the Czech Republic and Slovakia, based on the total number of all nominations and awards in all years of the Law Firm of the Year awards. The firm became the absolute winner of this competition four times in the last six years, receiving the main award Domestic Law Firm of the Year in the Czech Republic (2015, 2017, 2018, 2020) and ranking as one of the most recommended law firms in all categories of law. Our company is also a four -time winner of the Law Firm of the Year award for Best Client Services (2015, 2016, 2019, 2020). In the field of M&A, HAVEL & PARTNERS is the best law firm in the Czech Republic based on the annual International Advisory Experts awards (2018, 2019). Prestigious international rating agencies EMIS DealWatch and Mergermarket have ranked HAVEL & PARTNERS among the leading law firms by the number of transactions completed in the Czech Republic since 2010. Based on annual awards of the Acquisition International magazine, HAVEL & PARTNERS has become the Law Firm of the Year 2019 in the M&A category in the CEE region.

Firm's website: https://www.havelpartners.cz/en/

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