Liechtenstein-based Valartis Finance Holding AG's recovery successfully concluded - completion of recovery plan for Valartis Group AG expected at end-November

Friday, 28. October 2016 18:15

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@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.




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Source: Valartis Group AG via Globenewswire

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Valartis Group AG
Blegistrasse 11a Baar ZG Switzerland

ISIN: CH0001840450;


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