Voluntary bankruptcy of Ceramic Fuel Cells Ltd., page-15

The german Ceramic Fuel Cells GmbH is in a so called case "Vorläufiges Insolvenzverfahren".
There is no direct translation for it, but it is something like preliminary administration.

Lawyers are set by the court to manage and keep the business on going, try to find investors and create a restructuration plan. It may be similar to the australian "going into administration" - but just not voluntary. If the Company isn't able to pay for their bills they have to. As we know the GmbH receives no money from the Ltd. anymore.

The creditors have to decide, wether they want to keep the business on going with a restructuration plan , sell the business to a new investor (if any) or at last to liquidate the company to get some of their money back.

If the the creditors don't vote for liquidation, it is possible to keep the business on going in this status for several years. Until the company is sold to an investor or is able to create enough cash on their own.

This process has no connection and/or effect to the voluntary administration of the australian Ceramic Fuel Cells Ltd.