Med 11 AG
Med 11 AG: Bankruptcy Proceedings initiated against Med11 AG
Med 11 AG / Insolvency 17.08.2010 10:00 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- Bankruptcy Proceedings initiated against Med11 AG Zug, 16.8.2010 The Zug Bankruptcy Office has initiated bankruptcy proceedings against Med11 AG. The bankruptcy petition was filed by the auditing agency of Med11 AG, Treureva AG, Zurich, after they determined a total insolvency situation as part of the annual financial statement audit. After the Board of Directors of Med11 AG was informed about the existing total insolvency by Treureva AG, the Board of Directors tried to rectify the financial insolvency through various measures. For example, subordination was agreed with the main creditors of the company. However, despite these attempts by the Board of Directors, it was not possible to supply the company with the fresh capital required to reverse the insolvency. Discussions with the main shareholder of Med11 AG were also unsuccessful. Despite countless attempts, the Board of Directors did not manage to bring new business activities into Med11 AG in order to enable the continuation of the company. For this reason, the Board of Directors has accepted the opening of bankruptcy proceedings against Med11 AG and is now handling the liquidation of the company. Creditors of Med11 AG can either make their claims in writing to Med11 AG or directly to the Zug Bankruptcy Office, PO Box, 6310 Zug. 17.08.2010 Ad hoc announcement, Financial News and Press Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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