Mon Feb 2, 2015 2:29am EST
* Said on Sunday that it submitted to the Regional Court in Szczecin, Poland, proposal of an insolvency with liquidation plan
* Plans to cash in the company's assets via a public sale of the two organised parts of the business: production and hotels, and liquidation of all the other parts of the company
* Plans to pay with the accumulated money for the insolvency proceedings and the costs of running the company in a new form over the next 12 months following the end date of the insolvency arrangement
* Plans to change its business profile from production to retail and focus mainly on western and central Europe
* Plans to converse 20 pct of the outstanding liabilities of each creditor into shares of a new issue and write off the rest of the debt
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BRIEF-Kopahaus submits insolvency plan
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