Current report 42/2010
Acting pursuant to section 5.1.24 of the Minister of Finance on Current and Periodical Reporting by Issuers of Securities and on Conditions of Accepting as Equivalent of the Information Required by Legal Regulations of a Non-member Country of 19 February 2009 (Journal of Laws No. 33, 2009 item. 259) ("the Ordinance"), J.W. Construction Holding S.A with its seat in Ząbki (the "Company") announces that on 2 August 2010, the Company received a copy of the application submitted in the District Court for Warsaw, Praga - Północ, 9th Commercial Department for Bankruptcy and Reorganization, by a natural person (the customer of the Company) ("the Customer "), regarding the declaration of bankruptcy involving liquidation of the bankruptcy estate ("the Application").
In the opinion of the Company, the Application was submitted by the Customer in bad faith within the meaning of article 34 of Law on Bankruptcy and Reorganization, as there is no, and also at the time when the Application was submitted there was no factual basis for its submission resulting from article 11.1 of Law and Bankruptcy and Reorganization, especially those regarding the financial situation and financial status of the Company which could have justified the submission of the Application.
The Customer's claims underlying the Application concerned the settlements for the agreement on the construction and sale of the property (the amount of costs and additional in the amount of PLN 39,187.12), and at the date of this report were fully satisfied.
Any extortion attempt or attempt to blackmail will meet, both now and in the future with a strong reaction of the Company, which will take all possible legal actions to protect its interests and the interests of its shareholders.