Global PVQ SE
Global PVQ SE: Further Developments in the Insolvency Proceedings after the Creditors Meeting (Final Meeting) of 27 August 2015

Global PVQ SE (formerly Q-Cells SE): Further Developments in the Insolvency Proceedings after the Creditors Meeting (Final Meeting) of 27 August 2015

Halle/Saale, 4 February 2016

The insolvency administrator reports on the further developments concerning the insolvency proceedings of Global PVQ SE (formerly: Q-Cells SE) after the creditors meeting (final meeting) of 27 August 2015:

The sum set on 27 August 2015 for payments to preferential creditors has to be reduced by EUR 9.2 million due to new developments. This is based on the letter issued by the Federal Ministry of Finance dated 18 November 2015. This letter clarifies the temporal application of the principles as set up by the Federal Court of Finance in its judgement of 24 September 2014.

The regional court of Dessau-Roßlau (Landgericht Dessau-Roßlau) has dismissed an appeal by a creditor within the legal disputes regarding an insolvency claim of approx. EUR 161 million. However, the free liquidity, which has been reserved for this alleged insolvency claim, cannot (yet) be distributed to the insolvency creditors because the legal disputes have not been entirely concluded.

Again, the resulting figures are preliminary and they only indicate a further preliminary result in the insolvency proceedings. The final result of the proceedings and the expected final insolvency dividend still depend on various factors, which are not yet certain.

Contact:
Christoph Möller
möller pr
Phone: 0221 80 10 87-87
E-mail: cm@moeller-pr.de

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