SKW Stahl-Metallurgie Holding AG
- WKN: SKWM02
- ISIN: DE000SKWM021
- Land: Deutschland
Nachricht vom 05.02.2019 | 11:48
Insolvency proceedings of SKW Holding terminated - Company after operative restructuring now also financially sound
- Local Court in Munich terminates insolvency proceedings in self administration after successful implementation of insolvency pla
After SKW Group itself could implement an operative restructuring, this means, that SKW Holding with such debt relief now is also financially restructured. This because US-Finance Investor Speyside Equity has swapped an essential part of his credit claims against the Company in equity. Speyside now owns 100 % of shares in SKW Holding. The remaining credit claims are provided by the new shareholder as a long term loan in order to finance the operative business of SKW Group. Former shareholders have exited the Company after their shares have been transferred to Speyside Equity. SKW share (DE000SKWM021) has been delisted by January 15, 2019. For all non-subordinated insolvency creditors, the insolvency plan provides for full economic satisfaction of 100% of their respective claims. SKW CEO Dr. Kay Michel: "By termination of insolvency SKW Holding now finally is again a normalized company with sufficient capital base and standard market debt ratio. In this regard my special thanks go to all the employees in our group who succeeded, during the insolvency proceedings that took much longer than expected, not only to sustain our operative business but event to further develop it." Custodian Dr. Christian Gerloff (Gerloff Liebler Rechtsanwälte): "In many views these were extraordinary proceedings taking much longer than necessary because of permanent opposition by a group of shareholders. Even better that in such case we managed to continue the business operations and to avoid job cuts, all that linked with a full satisfaction of all creditors."
About SKW Stahl-Metallurgie Holding AG and the SKW Metallurgie Group End of Media Release Issuer: SKW Stahl-Metallurgie Holding AG
05.02.2019 Dissemination of a Press Release, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | SKW Stahl-Metallurgie Holding AG |
Prinzregentenstr. 68 | |
81675 München | |
Germany | |
Phone: | +49 (0)89 5998923-0 |
Fax: | +49 (0)89 5998923-29 |
E-mail: | info@skw-steel.com |
Internet: | www.skw-steel.com |
ISIN: | DE000SKWM021 |
WKN: | SKWM02 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
End of News | DGAP Media |
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