Clearway Capital Disputes GZO's Settlement Claims

Clearway Capital Partners has openly challenged GZO AG's recent settlement announcement regarding the Steiner / H56 Immo dispute. According to Clearway, the settlement, made just before the creditors' meeting, is not beneficial. Instead, Clearway sees this as a belated resolution that should have occurred earlier without needing creditors to vote in favor.

Since May 2024, GZO has cited a CHF 25 million lien and CHF 20 million provision as barriers to creditor payments, using the Steiner risk to refrain from accepting offers like Infracore's. The entire dispute was ultimately resolved with a CHF 4.6 million payment. Clearway criticizes this delay, noting the report numbers were consistently suppressed due to high reserves.

Furthermore, Clearway highlights that, despite the settlement, creditors must still waive substantial balances while municipalities retain hospital and real estate assets. Clearway urges creditors not to consent to the arrangement.