The Management Board of Wirecard AG decided today to file an application for the opening of insolvency proceedings on behalf of Wirecard AG at the competent Munich Local Court due to the threat of insolvency and over-indebtedness. It is being examined whether insolvency applications must also be filed for subsidiaries of the Wirecard Group.
Wirecard AG in the normal course of business has drawn upon credit from financial institutions. Wirecard AG has conducted negotiations with the lending institutions, taking into account recent developments. In the absence of an agreement with the lenders, there was a likelihood of termination and expiry
Wirecard AG in the normal course of business has drawn upon credit from financial institutions. Wirecard AG has conducted negotiations with the lending institutions, taking into account recent developments. In the absence of an agreement with the lenders, there was a likelihood of termination and expiry
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