Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Q-Cells SE To File For Insolvency - Quick Facts

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.

Click here to receive FREE breaking news email alerts for Q-Cells SE and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
The Eurozone manufacturing moved closer to stagnation in September as German factory sector contracted for the first time in 15 months, final data from Markit Economics showed Wednesday. The manufacturing Purchasing Managers' Index fell more than intially estimated to a 14-month low of 50.3 from August's reading 50.7. The reading was below the earlier flash estimate of 50.5. Indonesia's inflation accelerated in September on food and utility costs, data from the Central Statistics Agency showed Wednesday. The trade balance swung into deficit in August as import growth exceeded the increase in exports. Inflation rose to 4.53 percent in September from 3.99 percent in... The U.K. economy grew more than estimated in the second quarter and the current account deficit widened from the first quarter, the Office for National Statistics said Tuesday. Gross domestic product grew 0.9 percent sequentially, up from the prior estimate of 0.8 percent. The annual growth was confirmed at 3.2 percent.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.