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Zanders GmbH: Business Operations Are Fully Continued

Thursday, July 05, 2018

Press release from the issuing company

The restructuring team in the insolvency opening proceedings Zanders GmbH, consisting of ATN lawyer Dr. Marc d'Avoine, provisional insolvency administrator, lawyer and business graduate Paul Michels, deputy of lawyer d'Avoine, and management-consultant Uwe Binnewies emphasize that the business operations of the paper producer will continue in full. The restructuring director Igor Ferlan, who was already appointed by the shareholder Mutares AG before the application was filed, continues to be active for Zanders GmbH. The salaries of all around 500 employees are secured for June, July and August; June salaries have already been paid. Everyone involved is working hard on the restructuring concept, which can be expected around the end of July. Based on the course of proceedings so far, the team is confident that they will develop a viable concept with which Zanders GmbH can be sustainably restructured and repositioned.

Insolvency application process at Cologne District Court, docket number: 75 IN 232/18

 

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