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© tom schmucker dreamstime.com Business | August 04, 2017

Insolvency proceedings for SolarWorld opened

The local court of Bonn has just opened insolvency proceedings on the assets of SolarWorld AG as well as its subsidiaries SolarWorld Industries Sachsen GmbH, SolarWorld Industries Thüringen GmbH, SolarWorld Innovations GmbH and SolarWorld Industries Deutschland GmbH.
Attorney at law, Horst Piepenburg, Düsseldorf, has been appointed as insolvency administrator.

In this context, the insolvency administrator points out that the ongoing search for an investor, typical in insolvency cases, and the accompanying investor process, especially concerning the manufacturing sites of SolarWorld Industries Sachsen GmbH and SolarWorld Industries Thüringen GmbH have no substantial impact on the assets, financial and earning situation of SolarWorld AG. According to the information currently available, it is not possible for shareholders of SolarWorld AG to receive distributions from any proceeds from the sale.

In wake of the opening of the insolvency proceedings on the assets of SolarWorld AG, Mr. Philipp Koecke has just stated to the Supervisory Board that he immediately and without notice resigns his Management Board mandate; furthermore Mr. Frank Henn, Mrs. Colette Rückert-Hennen and Mr. Jürgen Stein have just stated to the Supervisory Board that they resign their respective Management Board mandates subject to the registration of the resignation in the commercial register.

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October 16 2017 2:56 PM V8.8.6-2