DGAP-Adhoc
Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten: Exploitation of fixed and current assets of SFAG in the insolvency proceedings in self-administration close to completion; evacuation of the plant by June 30, 2016 - Seite 2
currently approx. EUR 3,3 million and more income in an amount of about EUR
4 million is expected. Solar-Fabrik's remaining debt and costs - including
the liabilities towards the employees due to the executed social plan
according to § 123ff German Insolvency Act - are expected to be around EUR
2,7 million.
Currently an amount of approximately EUR 11,16 million has been notified by
creditors as insolvency claims. This amount is the total of EUR 3,47
million claims confirmed by the custodian, EUR 2,79 million of claims
provisionally denied by the custodian, and EUR 1,56 million of claims
finally rejected by the custodian as well as 720 thousand EUR of claims
already withdrawn by the creditors, and EUR 2,61 million of claims which
are registered but not finally assessed by the custodian, yet. Claims can
still be notified, confirmed or withdrawn until the completion of the
insolvency proceedings.
A final assessment on the total insolvency claims to be taken into account
during the insolvency proceedings is currently not possible, nor is it
possible to assess the final amount available for distribution to the
creditors, partly due to the pending and ongoing claim notification period
and partly due to potential warranties and liabilities of Solar-Fabrik AG.
The currently expected total exploitation revenues combined with the
liabilities to be paid implies a high quota with relation to the insolvency
claims already or expected to be confirmed; even a 100% quota cannot be
ruled out. If the bankruptcy assets are still available after full
satisfaction of confirmed insolvency claims, subordinated claims may be
notified to the custodian to the insolvency table, provided the Civil Court
prompts specifically for notification of these claims (§ 174 Art. 3 German
Insolvency Act). After the subordinated claims were also fully satisfied
the remains would be distributed to the shareholders (§ 199 German
Insolvency Act).
A final assessment of the financial results of the insolvency proceeding
and the quota to be distributed to the creditors and probably even to the
shareholders is currently not possible.
04.05.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Solar-Fabrik Aktiengesellschaft für Produktion und Vertrieb von solartechnischen Produkten
Bebelstr. 6
79108 Freiburg
Germany
Phone: +49 (0)761 - 4000-0
Fax: +49 (0)761 - 4000-199
E-mail: info@solar-fabrik.de
Internet: www.solar-fabrik.de
ISIN: DE0006614712
WKN: 661471
Listed: Regulated Market in Frankfurt (General Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart
End of Announcement DGAP News-Service
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