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Farmers refuse to pay part of Belmlek's shares.  The guardian no longer sends summons.  Bankruptcy process under threat

Farmers refuse to pay part of Belmlek’s shares. The guardian no longer sends summons. Bankruptcy process under threat

Some of the farmers who have received calls to equal Belmlik shares have already written down a written refusal – either on their own or in consultation with their attorneys. Some of them began to look for money to pay it off, even at the expense of taking out a loan. Meanwhile, the official receiver stopped sending the summons.

This is due to the fact that SM Bielmlek’s board of directors has announced that it will file a complaint against the declaration of bankruptcy. President Tadeusz Romachuk may have acted here personally. Let us remind you that he and the dairy management are still formally employed, even though they do not have the authority to manage SM Bielmlek’s assets, and they receive no remuneration.

The SMS was a kind of announcement of a bankruptcy complaint. Former members of the cooperative obtained a system number from which they were informed in advance of all changes to dairy and milk delivery. The news said that summoning the guardian was unethical.

Read more: The farmers received text messages from the Belmalk Coop number. Syndic: This number should not be used by anyone

What now?

This is another reason for farmers to refrain from paying for lost shares. Until the appeal case against the bankruptcy process is resolved, repayment of these liabilities is meaningless. If the court discontinued bankruptcy, the summons of the receiver would be unfounded, and he himself would cease his activities.

This, in turn, will have other consequences. The recipient will not sell the dairy assets. Entities preparing to buy it will disappear with nothing.

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The Belmlek Co-op will again be directly managed by the board of directors, but the bailiffs will enter its property, as most of it is mortgaged.

Wouldn’t the farmers pay then? It’s not that simple. According to the law, lost shares are part of dairy assets, so creditors can access them as well. Let us remember that Belmlich’s debts are approximately 250 million PLN. His fortune is still being evaluated, but recently there has been talk of 140 million PLN. This means that there will be many more farmers willing to collect cooperative debt. Perhaps the main creditors, that is, institutions directly or indirectly affiliated with the government, will not be tempted to take such a step, but private entities, yes.

Bankruptcy litigation is expected, but it is not known how the court will handle it. The appeal may also be rejected and the bankruptcy process will continue.

Another issue is that farmers can put forward various arguments for non-payment of the cooperative’s debts. We will write about the details soon.

Read more: The official guard’s response: I am acting within the limits established by law. This is a response to the farmers’ message

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