Voluntary bankruptcy of Ceramic Fuel Cells Ltd.

http://www.hzwei.info/blog/2015/03/03/freiwillige-insolvenz-von-ceramic-fuel-cells-ltd/
Voluntary bankruptcy of Ceramic Fuel Cells Ltd.

Posted on 3rd March 2015 by Hydrogeit




The Australian fuel cell company Ceramic Fuel Cells Limited has appointed voluntary administrators on March 1, 2015, are to continue the business until further notice. This step, which in Germany is comparable here with a voluntary bankruptcy, followed according to a statement from Australia on a board decision, which stated "that the company eitherwas insolvent or that it was likely that it is insolvent ". Accordingly, the trading of Ceramic Fuel Cells Ltd. (CFCL) suspended with immediate effect. For administrators are Adam Nikitin and Justin Walsh, both partner at Ernst & Young, Melbourne, Australia.

Ceramic Fuel Cells was further reported that "the voluntary administrators conduct an urgent review of their available options". To what extent this measure, the German subsidiary, which affects Heinberg resident Ceramic Fuel Cells GmbH, can not say now. A spokesman for the North Rhine-Westphalian manufacturer of fuel cell heating said today against HZwei , the Australian Board does not see any way to "be able to make a positive outlook" for the parent company.

In terms of Ceramic Fuel Cells GmbH, he said: "The business of the German company will be continued until further notice." He also reported that one is currently - as in previous weeks - on the search for a "strategic investor" which could secure the continued operation. The spokesman said he was "at the present time very confident" that here the "desired solution" is found. Details concerning the further development down under and in Heinberg it will probably be during this or next week.

Appointment of Voluntary Administrators, 2. März 2015