BIODATA Information Technology AG
Biodata Inform. Tech. english
Biodata initiates insolvency proceedings
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Biodata initiates insolvency proceedings
Lichtenfels, 20 November, 2001. The Board of Biodata Information Technology
today initiated insolvency proceedings at the local court in charge (Korbach,
Germany). Negotiations continue to secure the company’s operative business.
Biodata reported its insolvency reasons are over-indebtedness and imminent
illiquidity. Biodata plans to cooperate with the court’s insolvency
administrator to continue business after restructuring the group.
An external auditor’s report published on 30 October 2001 said Biodata was
overindebted. As a result of this report, Biodata tried to achieve extrajudical
composition proceedings with the relevant debtors. The Board also led
negotiations with various potential investors and creditors to sustain
liquidity. However, Biodata’s overindebtedness and imminent insolvency could not
be prevented by today. The company also reported it will continue intensive
negotiations with the aim to secure liquidity.
Editorial Contact:
Biodata Information Technology AG
Burg Lichtenfels, 35104 Lichtenfels,
Tel +49 (0) 6454 9120 118 or Tel. +49 (0) 6454 9120 132
Fax +49 (0) 6454 9120 180
end of ad-hoc-announcement (c)DGAP 19.11.2001
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WKN: 542270; Index: NEMAX 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
200036 Nov 01
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