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  • April 24, 2024
  • Press Releases

LIBERTY Ostrava restructuring plan vote confirmed by notary

The appointed notary has today confirmed that the required majority of LIBERTY Ostrava’s eligible creditors have officially approved its robust restructuring plan. This development is a significant step forward for the company and underscores LIBERTY’s commitment to a sustainable future. LIBERTY Ostrava has now submitted the approved votes to the Ostrava Court for its final decision on the plan.

The voting was carried out by LIBERTY Ostrava’s 1,049 eligible creditors, which excluded related-party creditors, disputed creditors such as Tameh and creditors for which there was a repayment plan in place before the General Moratorium was implemented, such as EGAP.

Final voting numbers:

Item Votes for & % of total vote Votes against & % of total vote
LIBERTY Ostrava Restructuring Plan 92.72 1.67
Exclusion of Tameh from vote on restructuring plan 86.65 5.64


Further information:

Kateřina Zajíčková
Head of Communications and PR LIBERTY Ostrava
+420 725 650 585
Paddy Toyne-Sewell
Communications Europe, GFG Alliance
+44 (0) 7767 498 195

LIBERTY Ostrava is an integrated steel company with an annual production capacity of 3.6 million tons of steel, which is mainly used in construction, engineering, and the oil and gas industry. It is a domestic leader in the production of road barriers and tubes.   In addition to the Czech market, it supplies its products to more than 40 countries around the world. Together with its subsidiaries, it has 5,200 employees.

LIBERTY Steel Group is part of the global GFG Alliance owned by Sanjeev Gupta and his family.  GFG Alliance has three independent industrial brands: LIBERTY Steel Group, ALVANCE Aluminium Group and SIMEC Energy Group, which share the same values and strive for a long-term sustainable future for industry and society.   GFG Alliance operates in 30 countries around the world, where it has a total of 35,000 employees.

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