on Diok RealEstate AG (isin : DE000A2NBY22)
ESPG AG Initiates Restructuring Amid Impending Insolvency
ESPG AG has announced the initiation of a restructuring project under the German StaRUG framework due to impending insolvency. Both the Management Board and Supervisory Board have decided to file a restructuring plan with the local court.
The plan requires bondholders to waive all claims under the 2018/2026 bond, for appropriate compensation. Additionally, the interest payment due on 1 October 2024 will be cancelled. Investors have committed around EUR 9.5 million in fresh liquidity, conditional on the plan’s legal effectiveness.
ESPG will submit the restructuring plan imminently, aiming for its provisions to take effect by the end of October 2024. The company pledges to keep stakeholders informed about the progress of the restructuring measures.
R. E.
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