Mostostal Warszawa faces financial crisis and potential insolvency

Mostostal Warszawa, a major Polish construction company employing approximately 1,000 people, is facing a severe financial crisis. The company must repay a loan of approximately 115 million PLN to its majority shareholder, Acciona Construcción Polonia, by August 31. This repayment deadline has already been extended seven times since the original March due date.

To prevent potential insolvency or liquidation, the company's management has proposed an emergency share issue to increase capital from 425 million PLN to 570 million PLN. While Acciona Construcción Polonia has expressed willingness to support the capital increase, it has stated it is no longer interested in providing indefinite short-term financing and requires a comprehensive, long-term structural solution.

The implementation of this rescue plan depends on two critical factors: obtaining approval from the Polish Financial Supervision Authority (Komisja Nadzoru Finansowego) and reaching an agreement among the company's shareholders, who remain divided on the proposed direction.