Cargolifter AG i.I. (delisted)
CargoLifter AG english
CargoLifter Development GmbH filed petition in temporary insolvency
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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CargoLifter Development GmbH filed a petition in temporary insolvency;
Prof. Rolf-Dieter Moenning temporary insolvency administrator;
CargoLifter AG did not file petition in insolvency
CargoLifter Development GmbH, a hundred per cent subsidiary of CargoLifter AG,
filed a petition in insolvency because of unability to pay at the local court
Cottbus this morning. CargoLifter AG and its other subsidiaries did not file a
petition in insolvency. Prof. Rolf-Dieter Moenning, renowned insolvency
administrator, was appointed as temporary insolvency administrator.
As the focus of CargoLifter Development GmbH lies on the development and
production of the transportation airship CL 160, insolvency enables a
fundamental reorganization for putting back the business of CargoLifter Group
back on an even keel again successfully. Therefore, the company currently works
out a concept that will be presented under agreement with Prof. Moenning. This
way, CargoLifter Group uses the under “Chapter 11” known possibility of German
law, to work, present and execute its own concept to put the business back on an
even keel. As CargoLifter AG as parent company and the other subsidiaries did
not file a petition in insolvency, liquidity will be saved in order to increase
the chances for the reorganization to restore liquidity again.
The concept intends to continue the company and its business. CargoLifter will
focus on the production and sales of the transportation balloon CL 75 AirCrane
and will enforce research and development in order to acquire new market areas
for this product. CargoLifter AG will ensure to maintain the existing core
competencies for the transportation airship CL 160 in order to be able to build
it and continue the program if financing is certain. Despite the concept to
reorganize the CargoLifter Group, its power to act will be preserved.
end of ad-hoc-announcement (c)DGAP 31.05.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
CargoLifter continues its contacts with the federal government and the dialogue
with the State of Brandenburg in order to execute the reorganization concept.
Besides the possibility to use the already granted security, the company also
tries to integrate the State of Brandenburg into the reorganization concept.
CargoLifter continues its negotiations with banks and investors. If a consortium
of finance partners could be achieved for the next finance step, already
available commitments of investors could be used.
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WKN: 540261; ISIN: DE0005402614; Index: MDAX
Listed: Amtlicher Handel in Frankfurt; Freiverkehr in Berlin, Bremen,
Düsseldorf, Hamburg, Hannover, München und Stuttgart
311332 Mai 02
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