Centrotherm Photovoltaics AG (Blaubeuren, Germany) has submitted a restructuring plan to the District Court of Ulm (Germany). Following court examination, the plant will be presented to creditors, who will then vote on whether or not to accept it.

Centrotherm says that if the plan is approved, it can then operate independently on a solid basis on the market as a reorganized company. Centrotherm has submitted similar restructuring plans for subsidiaries Centrotherm Thermal Solutions GmbH & Co. KG (Blaubeuren, Germany) and Centrotherm SiTec GmbH (Blaubeuren, Germany).

"Our aim is maintain Centrotherm as an independent company based on this plan and to guide it towards a successful future," says Centrotherm Administrator Tobias Hoefer. "Ultimately this would benefit everyone involved in the process."

Creditor deadline of November 5th, 2012

Centrotherm notes that insolvency creditors are able to register their receivables to the court-appointed administrator by November 5th, 2012, in order to participate in the continued process and have a say in the approval of insolvency plans.

The court has appointed Dr. Martin Hörmann from the Rechtsanwälte legal firm as Centrotherm Photovoltaics' administrator and Alexander Reus from the same firm as administrator for Centrotherm Thermal Solutions and Centrotherm SiTec.

2012-10-16 | Courtesy: Centrotherm | solarserver.com © Heindl Server GmbH

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