Solarworld in insolvency

Solarworld, once the largest German solar energy company, has announced it is required to call for insolvency soon, as long as it has been largely losing because of the Asian competition according to  Deutsche Welle.

Company publish this press release:

On May 11, 2017, the Management Board of SolarWorld AG filed for insolvency proceedings at the local court of Bonn. In the due course of these proceedings, the court has appointed attorney at law Horst Piepenburg as preliminary insolvency administrator with the reservation of approval according to § 21 Abs. 2 Nr. 2, 2 Alt InsO.

The Management of the affiliated companies SolarWorld Industries Sachsen GmbH, SolarWorld Industries Thüringen GmbH, SolarWorld Industries Deutschland GmbH and SolarWorld Innovations GmbH also filed for insolvency proceedings at the local court of Bonn on May 12, 2017, due to the insolvency of the parent company. The court of insolvency then also appointed attorney at law Horst Piepenburg as preliminary insolvency administrator for these companies.
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