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SOLAR MILLENNIUM AG

2011-12-21

Solar Millennium AG: Volker Böhm appointed preliminary insolvency administrator; Evaluation of business situation has already begun

Erlangen, Dec. 21, 2011 Solar power plant developer Solar Millennium AG filed insolvency on Wednesday with the District Court of Furth. The court appointed Mr. Volker Böhm, attorney-at-law, from the Nuremberg office of the insolvency law firm Schultze & Braun as the preliminary insolvency administrator. Immediately after being appointed, attorney Böhm headed for the company’s premises in Erlangen to get an idea of the company’s situation.

Böhm’s first step will be to review whether it is possible to continue business operations during the preliminary bankruptcy proceedings. If so, he will focus on pre-financing of the insolvency funds to ensure that the employees of the Solar Millennium AG receive their salaries and wages within the legal guidelines.

In the afternoon during a general assembly, the preliminary insolvency administrator informed the employees of the Solar Millennium AG about the situation and the next steps. He will also contact the most important project and business partners of the company in the near future.

The Solar Millennium AG filed for insolvency in the morning due to substantial projects of the company being postponed. More information about the current business development can be found on the website of the Solar Millennium AG at www.solarmillennium.de.

 

Contacts:

Schultze & Braun:

Nico Krespach

NKrespach@schubra.de, Tel.: +49 (0) 7841 708-125

 

Solar Millennium AG:

Corporate Communications:

presse@SolarMillennium.de

Investor Relations:investor@SolarMillennium.de

Tel.: +49 (0)9131 9409-0

 

Press release available at: http://www.schubra.de/de/presseservice/pressemitteilungen.php