Insolvency proceedings open for Asola Solarpower

The Jura District Court has opened insolvency proceedings against the assets of Asola Solarpower GmbH. Former trustee, lawyer Jochen Grentzbach has been appointed liquidator of the company by the court, according to a public notice.

Creditors have until May 1 to file their claims. Meanwhile, the district court has scheduled a creditor meeting for June 6.

At the end of January, the photovoltaics manufacturer filed a petition for insolvency. A strategic realignment has recently been initiated, which has the broad agreement of the creditors committee. This should now be implemented in the coming weeks, said liquidator Grentzbach in an initial statement.

The initiated steps have proven to be accurate against the background of the European anti-dumping investigation, launched against Chinese photovoltaic imports. In terms of redevelopment opportunities, Grentzbach envisages both a realignment of business and the setting of new priorities.

Currently, Asola’s business operations are running unchanged. In-house production is also scheduled to be increased. The company said it aims to restore competitiveness and become profitable in a short time.

Translated and edited by Becky Beetz.