Restructuring of Neonet S.A.
18.06.2025
Over the last half-year we have provided legal support to financial institutions BNP Paribas Faktoring sp. z o.o., Crédit Agricole Bank Polska S.A., ING Bank Śląski S.A., mBank S.A., Bank Millennium S.A., Pekao Faktoring sp. z o.o., PKO Bank Polski S.A. and Santander Bank Polska S.A. in the remedial proceeding for Neonet S.A.—the largest restructuring proceeding of this type in Poland in recent years.
The restructuring of Neonet S.A. resulted in an investment agreement under which X-KOM sp. z o.o. acquired 51% of Neonet’s shares. This made Neonet an integral part of the X-KOM group, and the synergies between the companies will help them better meet the needs of customers on the market for electronics and home appliances.
We supported the financial institutions in a debt restructuring process which resulted in signing of a term sheet summarising the conditions for restructuring Neonet’s financial debt, conclusion of annexes to the existing security instruments, and a vote approving a comprehensive arrangement (including 11 groups of creditors), covering the total debt of Neonet S.A.
The arrangement was confirmed by the court with legal finality, closing out the remedial proceeding. Our firm also advised the council of creditors and coordinated its work.
The project was led by Mateusz Tusznio. Other lawyers in the firm taking part in the work included Jakub Kokowski, Ewa Kruszko, Filip Kurys and Amelia Niemiec, with Łukasz Szegda as the partner supervising the team.