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Adveo Deutschland cites pre-insolvency

Nov 13, 2018 | 0 comments

The German-based division of Adveo Group International has announced that it is invoking a pre-insolvency protection mechanism which falls under German law.

As Reuters reports, by invoking pre-insolvency protection, the company “can’t be claimed by its creditors during negotiations related to refinancing.”

Companies can adopt this mechanism for a period of up to 3 months; invoking pre-insolvency protection “does not imply any changes in [the] current activity of the company.”

Adveo says it is still exploring alternatives for its refinancing.

Categories: City News

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