Eco Log approaches the exit from the reconstruction process
The District Court of Hälsingland has today established the reconstruction plan, including debt settlement, that Eco Log has offered their creditors. This means that the company is expected to exit the financial reorganization shortly.
-We are very grateful for the support that we have received during the past month´s and we are pleased with the reconstruction process. To establish a reconstruction plan today is positive news to all suppliers, customers and employees that have had great patience during the financial reorganization. In the long term we see that Eco Log has very good fundamentals to grow and strengthen their position in the market and as a customer to the supplier network even more, says Martin Alsander, board member at Eco Log and partner in the ownership company Lazarus.
Eco Log has claimed that the district court establishes that the reorganization should be ended when today´s decision becomes legally binding. Then, the purpose of the reconstruction is fulfilled, and the company has created sustainable conditions to secure the operations in the long term.
-The fact that the creditors have approved the debt settlement is an important landmark that marks the end of the reconstruction process. My judgement is that there are now very good conditions for a viable business ahead, says Linda Schenholm, reorganization administrator for Eco Log.
Eco Log is expected to exit the financial reorganization during April.