Q-Cells SE (QCLSF.PK) would file for insolvency proceedings on Tuesday, 3 April 2012, at the competent Insolvency Court in Dessau. Against the backdrop of the final ruling of the Frankfurt Higher Regional Court in the Pfleiderer case on March 27, 2012, the company had come to the conclusion that no going concern prognosis is given anymore.
After an intensive review of alternative concepts for the implementation of the financial restructuring, the Executive Board has concluded that a going concern of the company cannot be restored on a sufficiently secure legal basis. Hence, the filing for insolvency proceedings is legally necessary. The Executive Board and the preliminary insolvency administrator would work together to secure the continuity of the company within the insolvency proceedings.
by RTT Staff Writer
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