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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 |
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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 For further information, please contact: Valartis Group [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. 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 --- End of Message --- |
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