Liechtenstein-based Valartis Finance Holding AG's recovery successfully concluded - completion of recovery plan for Valartis Group AG expected at end-November
(Thomson Reuters ONE) -
Valartis Group AG /
Liechtenstein-based Valartis Finance Holding AG's recovery successfully
concluded - completion of recovery plan for Valartis Group AG expected at
end-November
. Processed and transmitted by Nasdaq Corporate Solutions.
The issuer is solely responsible for the content of this announcement.
Based on today's decision, the Princely Court of Liechtenstein has approved the
application for termination of bankruptcy deferment for Valartis Finance Holding
AG following the successful conclusion of the recovery process.[1] Valartis
Finance Holding AG is the Liechtenstein-based financial holding company of
Valartis Group AG, Baar, Switzerland. After closing of the sale's transaction
for the Liechtenstein banking group on 20 September 2016,[2] all outstanding
liabilities have now been settled, and the company is fully recovered and free
of debt. This means that Valartis Group AG is now also able to finalize its
recovery plan and to apply to the Cantonal Court of Zug, Switzerland for the
lifting of the Swiss moratorium.[3] The approval by the Cantonal Court of Zug is
expected at end-November 2016.
Agenda
General Meeting 2017 16 May 2017
For further information, please contact:
Kim-My Schefer, Head Corporate Communications & Marketing, Valartis Group AG
Tel. +41 44 503 54 02, MediaRelations(at)valartis.ch
Valartis Group
Valartis Group is an international finance group with offices in Switzerland,
Luxembourg, as well as Moscow and St. Petersburg. Valartis Group AG (Baar,
Switzerland) is listed on the Swiss stock exchange, SIX Swiss Exchange.
Continued operations include the fields of financial services, Real Estate
Project Management and Private Equity.
www.valartisgroup.ch
--------------------------------------------------------------------------------
[1] See also media release from 16 November 2015: Valartis Group AG under
provisional moratorium; application for a definitive moratorium will be
submitted today; http://www.valartisgroup.ch/de/News-Medien/News-
Medienmitteilungen/.
[2] See also media release from 21 September 2016: Closing on the takeover of
Valartis Bank (Liechtenstein) AG by Citychamp Watch & Jewellery Group Ltd. -
final precondition for successful implementation of recovery plans fulfilled;
http://www.valartisgroup.ch/de/News-Medien/News-Medienmitteilungen/.
[3] The moratorium in Switzerland is currently valid until 23 November 2016.
Press release (PDF):
http://hugin.info/143135/R/2052669/768282.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Valartis Group AG via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 28.10.2016 - 18:15 Uhr
Sprache: Deutsch
News-ID 503586
Anzahl Zeichen: 3307
contact information:
Town:
Baar ZG
Kategorie:
Business News
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