- Guaranteed ability to deliver and pay liabilities
- First investors express interest
- Creditors’ committee has agreed to self-administration
- Temporary creditors’ trustee confirmed
Neschen AG’s employees, customers and suppliers have all pledged their full support to the company. “We are still in a position to deliver goods and pay all due liabilities, and our employees and customers are standing by our side. This support speaks volumes. The insolvency has not affected our business operations, which will carry on as before,” says Henrik Felbier, CEO of Neschen AG. Furthermore, all the 300 jobs in Europe should be maintained. The board of directors is now faced with the task of reorganizing the company’s financing and shareholding structure. “The company is in a position to pay all of its liabilities and is in good order. We have sufficient assets to pay our suppliers for all new orders. Neschen continues to be a stable business partner and will use this insolvency to eliminate its financial burdens,” says Dr. Bettina Breitenbücher, Chief Restructuring Officer for Neschen AG. The first investors have already expressed their interest in the company. “We are very confident that we will find a long-term investor for Neschen as we have already spent the last three years restructuring the company’s operations,” stresses Mr. Felbier.
On April 17, 2015, Neschen AG’s board of directors filed for insolvency and applied for self-administration due to existing liabilities from an old credit agreement, which the company cannot pay. As a result, the company’s ability to continue as a going concern could not be confirmed. The temporary creditors’ committee of market-listed Neschen AG has already agreed to the application for self-administration. Arndt Geiwitz has been confirmed as the temporary creditors’ trustee.
