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Notification of insufficiency of insolvency estate pursuant to sections 285, 208 German Insolvency Code

26. 03. 2013 - 15:35:00

Hirschau, 26 March 2013 - Today, the supervisor of SiC Processing GmbH, Dr Hubert Ampferl, has notified the local court of Amberg pursuant to sections 285, 208 of the German Insolvency Code that the insolvency estate is currently insufficient to cover the costs of the insolvency proceedings and the other liabilities of the estate which are due and payable.  As a consequence, the company has - for the time being - not to satisfy the liabilities of the estate which came into existence up to now.  This step enables the company, to fulfil its contractual obligations arising from service, supply, employment and other contracts and to satisfy new liabilities of the estate resulting from such contracts.
 
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About SiC Processing GmbH:
SiC Processing GmbH is the leader for recycling of slurry from water sawing processes of PV and semiconductor industries. The SiC Processing group has established itself in a timeframe of only eleven years as global leader for the recycling of slurry. The production sites are located in Germany, China and the US. In Italy, SiC Processing runs a sales agency, while the site in Norway was shut down mid of 2012 following bankruptcy of the Norwegian customer. To date, the group employs 617 employees. Beside the majority shareholder Nordic Capital Fund VII, the founder family has a shareholding of 25 per cent in the Company. You can find more information at www.sic-processing.com.
 
Press Contact:
Markus Kreuzer
Head of Marketing and Communications
Telephone: 0049 (0) 9622 - 70 39 273
E-Mail: markus.kreuzer@sic-processing.de

 

 

N.B. The text in English is a courtesy translation from German only. In the event of any discrepancies between the two, the German original text shall prevail.

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SiC NEWS

2016-02-29:

Regarding the tradability of the SiC Processing bond 7.125% (WKN: A1H3HQ / ISIN: DE000A1H3HQ1)

By request of the insolvency administrator of the assets of SiC Processing GmbH and in the interest of the bond holders, the stock exchange operator informed the specialist who ensures the trade at the Frankfurt Stock Exchange that in his opinion there are no objections to extending the tradability of the SiC Processing bond 7.125% (WKN: A1H3HQ / ISIN: DE000A1H3HQ1) at the Frankfurt Stock Exchange beyond its final maturity on the 01 March 2016.

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2013-03-26:

Notification of insufficiency of insolvency estate pursuant to sections 285, 208 German Insolvency Code

Hirschau, 26 March 2013 – Today, the supervisor of SiC Processing GmbH, Dr Hubert Ampferl, has notified the local court of Amberg pursuant to sections 285, 208 of the German Insolvency Code that the insolvency estate is currently insufficient to cover the costs of the insolvency proceedings and the other liabilities of the estate which are due and payable. As a consequence, the company has – for the time being - not to satisfy the liabilities of the estate which came into existence up to now. This step enables the company, to fulfil its contractual obligations arising from service, supply, employment and other contracts and to satisfy new liabilities of the estate resulting from such contracts.