Pietro Filipi's creditors proposed to cancel the sale of the trademarks
The creditors of the bankrupt clothing company Pietro Filipi did not accept any of the offers to buy the brand's trademarks at their October meeting. They decided to cancel the tender and announce a new one. The creditors also agreed to revoke the existing consents regarding the monetization of the trademarks and agreed to sell them outside the auction. The court rejected the motions of the creditor, who demanded the annulment of these resolutions. This follows from the documents published in the insolvency register.
The expert valued the set of Pietro Filipi trademarks at CZK 15.6 million. Insolvency administrator Lukáš Vlašaný received three purchase offers. One was filed by Company New of the Natland investment group. It offered CZK 2.5 to CZK 2.9 million. The PF Fashion company applied for trademarks, in which the clothing company Ozeta, a former partner of the Penta group, Jozef Špirek, is a partner. She was willing to pay CZK 3.2 million for the trademarks. The third applicant was S.E.H. Private Equity founded by entrepreneurs Martin and Petr Hesový. It first offered CZK 9.5 million for stamps, then adjusted the offer to nine million crowns.
Some creditors do not like that even the highest bid does not reach the value set by the expert. Given that the offers were even lower before the publication of the expert report, according to these creditors, they assume that the price may increase.
On the other hand, the creditor, who opposed the cancellation of the tender, immediately considers the highest bidder to be the most profitable sale. It calculates that the value of trademarks will decrease over time.
The court did not grant the motion to cancel the tender. According to him, the opinions of both groups of creditors are contradictory and based on assumptions, the veracity of which cannot now be verified. "As both options may arise, it is not possible at present to conclude that the resolutions adopted will lead to a reduction in the price offered and thus to a lower monetization yield applicable to satisfy unsecured creditors, ie that they run counter to the common interest of creditors," the court said. to justify.
The Pietro Filipi clothing brand has been operating on the Czech market since 1993, but the company has struggled with debt. Entrepreneur Michal Mička believed that he could raise the established brand and in 2017 he and his investment company C2H bought an 80% stake in it, in 2019 he acquired the remaining 20 percent. Pietro Filipi went into insolvency due to the coronavirus pandemic and forced closures. In May, the Municipal Court in Prague ruled on the declaration of bankruptcy.
Source: CTK
