Germany, June 22, 2020. The negotiations between Nanogate SE and its Group financing banks on the financing concept for the compensation of COVID-19 pandemic-related liquidity needs have failed. Nanogate SE will therefore file for bankruptcy in self-administration (“protective shield proceeding”) with the relevant district court immediately due to its imminent insolvency, with the aim of restructuring the company as part of the ongoing restructuring process.
The negotiated financing concept essentially comprised a significant postponement of principal payments for existing bank loans. Because an agreement was not reached, an essential prerequisite for the long-term financing of the Group and securing
The negotiated financing concept essentially comprised a significant postponement of principal payments for existing bank loans. Because an agreement was not reached, an essential prerequisite for the long-term financing of the Group and securing
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Mngptwumyp
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