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PCB | June 23, 2008

Insolvency proceedings for Mania Technologie

On June 20, 2008 the District Court in Bad Homburg (insolvency court) ordered the institution of insolvency proceedings for the assets of MANIA Technologie and its subsidiaries Mania Deutschland and Mania Entwicklungsgesellschaft.
Ms. Angelika Amend, lawyer in Kronberg/Ts. was appointed administrator for Mania Technologie and Mr. Arno Wolf, lawyer, was appointed administrator for Mania Deutschland and Mania Entwicklungsgesellschaft. The respective orders of adjudication are expected to be published on Monday, June 23, 2008.

During the course of the preliminary insolvency proceedings we have succeeded in finding in ESO Luxco I S.à r.l. a purchaser for Mania Group’s world-wide outsourcing business and for Mania Technologie Belgium N.V., so that the overseas subsidiaries operating in the outsourcing business division and Mania Technologie Belgium N.V. in its field of business will continue operations after the institution of the insolvency proceedings.

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