Court approves GA Polyolefins partial arrangement with creditors

The court has approved the partial arrangement with the creditors of Grupa Azoty Polyolefins. According to Grupa Azoty, this is one of the most important steps so far in the process of restoring the group's financial stability and confirms that the chosen restructuring path is correct. The decision brings Grupa Azoty closer to resolving the issue of the Polimery Police project, which for years represented a heavy financial burden and limited the development of the entire group. It also opens the way to completing the sale of GA Polyolefins to Orlen.

On 6 November 2026, the Szczecin-Centrum District Court in Szczecin, 12th Commercial Division, issued a decision approving the partial arrangement of GA Polyolefins, adopted by the creditors' meeting on 27 March. This is a key stage of the restructuring process launched in November 2025. Debt restructuring and court approval of the arrangement were conditions set by the Orlen Group in connection with the planned acquisition of the company. The court decision is not final.

"Polimery Police has become a symbol of wrong investment decisions from the past, the consequences of which weighed on the entire Group for years, limiting its development opportunities. Today's court decision confirms that the chosen restructuring path is correct and brings us closer to freeing Grupa Azoty from one of its largest financial burdens. This is a great success, achieved through many months of intensive work. However, it does not mean the end of the recovery process. Further, equally important challenges lie ahead. Today we have taken a very big step towards our goal: a stable, strong and competitive Grupa Azoty, focused on its core business and future development," says Marcin Celejewski, President of the Management Board of Grupa Azoty.

Reduction of around 83% of liabilities covered by the arrangement

"We have carried out one of the most complex debt restructurings in Polish industry, obtaining creditors' support for a reduction of around 83% of the liabilities covered by the arrangement. This was not only a financial or legal process. It was a fight for a responsible solution to the problem of an investment of strategic importance for the Polish economy. This is an important day for GA Polyolefins and the West Pomeranian Voivodeship, and also important proof that restructuring can be a tool for real value recovery," says Małgorzata Królak, President of the Management Board of Grupa Azoty Polyolefins.

Agreement with the Orlen Group

On 31 March 2026, Grupa Azoty signed a preliminary agreement with the Orlen Group for the sale of shares in GA Polyolefins. Under its terms, Orlen is to take full control of the company and provide the financing needed to implement the arrangement with creditors and settle liabilities not covered by the arrangement. Court approval of the arrangement is a significant step towards completing the transaction, which remains subject to the fulfilment of the conditions set out in the agreement.

Resolving the situation of GA Polyolefins is one of the foundations of the wider recovery process of Grupa Azoty. It will reduce the burden resulting from the Polimery Police project and create conditions for focusing on the group's core business. However, it does not mean the end of the recovery process. Grupa Azoty still faces further challenges, including reaching a long-term agreement with financing institutions, improving operational efficiency and using synergies between the companies. According to the company, all these measures are intended to rebuild a strong, competitive Grupa Azoty capable of stable development.