Video: Second rescue practitioner pulls plug on Libertas GH
Recommends the court to place it in liquidation.
Libertas GH, a troubled investment company, is set to be liquidated after its second business rescue practitioner, Thomas Samons, announced his decision on September 8th. This comes just days after Ahmad Yasin Hossenbocus, the first BRP, urged investors to recover capital through business rescue instead of liquidation. Samons concluded that liquidation was inevitable due to the "undue pressure" on the rescue proceedings.
Hossenbocus had previously published a video message admitting that investors might not recover all their money, while emphasizing the potential for substantial recovery through rescue. However, Samons's investigation found no credible path for investors to recoup their funds through rescue. Hossenbocus claimed there was capital waiting to be deployed, including investments in a plastic-to-diesel operation and a Bosnia plant, but investors remain skeptical.
The decision to terminate business rescue proceedings has left creditors and affected parties uncertain about the company's future.
Written by urgent.news from The Citizen's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
