After examination, the reorganization plan will be presented to centrotherms creditors, who will in turn have to vote on its adoption.
The aim of the plan is to preserve centrotherm as an independent company and lead it into a successful future, explained Tobias Hoefer, reorganization expert for the photovoltaic systems manufacturer.
If both the court and the creditors agree to the plan, the self-administration insolvency proceedings would be cancelled. The same would apply to subsidiaries Centrotherm Thermal Solutions and Centrotherm Sitec, which also filed insolvency plans with the district court.
The creditors of the companies now have until November 5 to submit their claims to court-appointed trustee Martin Hörmann.
Translated and edited by Becky Beetz.