Deutsche Forfait AG: Schutzschirmverfahren is to be continuedToday’s meeting of the creditors’ committee of DF Deutsche Forfait AG (Prime Standard, ISIN: DE000A14KN88) has endorsed the Schutzschirmverfahren granted by the local court, thereby authorising the company’s management to move forward with the process.
On 30 September Deutsche Forfait AG entered a three-month phase of creditor protection with debtor-in-possession status (“Schutzschirmverfahren in Eigenverwaltung“). During this three-month Schutzschirmverfahren period the company is protected from foreclosures and other enforcement measures by creditors and retains its capacity to conduct business. Moreover, the Board of Management is free to move forward with the company’s financial restructuring launched some time ago and is now in a position to implement the restructuring programme using the legal instruments available during the Schutzschirmverfahren period. A provisional creditors’ committee has been formed in accordance with the Schutzschirmverfahren statutes. Today’s inaugural meeting of the committee was attended by provisional insolvency monitor Dr. Jörg Nerlich as well as by the Board of Management and a number of advisors. By endorsing the court-mandated creditor protection status for the time being, the creditors’ committee has paved the way for continuing the company’s business operations and bringing its financial restructuring to a successful conclusion.