Kremenchug steel plant not to go bankrupt

The Economic Court of the Poltava region on Jan 26th refused to initiate a criminal case on the bankruptcy of “Kremenchug steel making plant” PJSC and approve a reorganization plan, a source in the Court said.

According to them, the plant’s trade union stated that the reorganization plan is informative and doesn’t contain certain measures on the recovery of the enterprise. The Court supported them by their decision.

“The list of planned measured aimed at the recovery of paying ability of “Kremenchug steel making plant” OJSC is of general character and doesn’t’ contain a strict list of actions aimed at the enterprise’s overcoming of the financial crisis”, is said in the Court’s decision.