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Hansa Group AG petitions for commencement of insolvency proceedings under its own administration on grounds of insolvency


Wednesday, 9 Jul 2014 12:43pm EDT 

Hansa Group AG:Management Board has openly reviewed restructuring options available to the group of companies and resolved to restructure company by means of insolvency proceedings under its own administration.Management Board of Hansa Group AG therefore filed petition to commence insolvency proceedings under its own management on grounds of insolvency with responsible District Court in Duisburg.Says petition for commencement of insolvency proceedings under its own management was also filed for group companies LUHNS GmbH, WASCHMITTELWERK GENTHIN GmbH and Chemische Fabrik WIBARCO GmbH.Expects that insolvency court concerned to act very quickly to appoint provisional administrator.