Creditors vote for restructuring of Hagedorn

Osnabrück, 24th of September 2012 

Last Friday, the re-structuring of the Hagedorn-Group has overcome another hurdle. The creditor’s meeting of the chemical company has given its unanimous vote to the insolvency plan, which had been worked out by the management and administrator for the Hagedorn AG and Hagedorn NC. This plan foresees the preservation of the companies instead of liquidation. For Hagedorn NC the joining of a new investor is possible. „With this, Hagedorn has got a solid foundation for its future,“ states administrator, Stephan Michels. “The re-structuring process is continuing and the insolvency proceedings are expected to be concluded within the next few months. It will then be possible to determine a quota, which will be the base for the settlement of overdue receivables for the creditors.”

Business activities of both companies are continuing unchanged. “We have got a good order situation and are still producing without restrictions,” states Dirk Brauch, the companie’s Board of managers. “Therefore no further redundancies are planned.”