Solarwatt AG: Creditors’ Meeting Approves Restructuring Plan and Supports Realignment

12.09.2012

[] At yesterday‘s deliberation and voting meeting the creditors’ meeting approved the restructuring plan prepared by the board of SOLARWATT AG. The Dresden Local Court subsequently confirmed the plan. The board of SOLARWATT AG has thereby taken a significant step toward the preservation and long-term restructuring of one of the leading German manufacturers of solar modules. The “protective shield” proceeding successfully undertaken by the board of SOLARWATT AG is one of the first of its kind in Germany.

GÖRG advised the board of SOLARWATT AG on protective shield proceedings pursuant to § 270 b of the German Insolvency Act (InsO) and assisted it with insolvency law issues during the debtor-in-possession period. Further, in respect of the bonds issued by the company, GÖRG is advising on the restructuring of these as well as on capital markets and corporate law matters. This proceeding has shown that in practice, the new protective shield proceeding can result in the rapid restructuring of the company.

Advisors SOLARWATT AG

GÖRG Partnerschaft von Rechtsanwälten

Dr. Michael Nienerza, Partner, Insolvency law, Munich
Dr. Christian Becker, Partner, Bonds, Capital markets and Corporate law, Munich
Dr. Wolfram Desch, Associated Partner, Insolvency law, Bonds, Munich
Dr. Christian Schröder, Associated Partner, Bonds, Capital markets and Corporate law, Munich
Lutz Pospiech, Associate, Bonds, Capital markets and Corporate law, Munich
Jan Janßen, Partner, Insolvency administration, Cologne
Dr. Carsten Oliver Müller-Seils, LL.M., Associated Partner, Insolvency law, Bonds, Cologne

About SOLARWATT AG

Formed in 1993 and active throughout Europe, SOLARWATT AG has its headquarters in Dresden and is one of the leading German manufacturers of high-quality crystalline solar modules. It also offers innovative photo-voltaic complete packages and energy management systems.

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