Chinese Shareholder Vows to Save Kiekert Amid Insolvency
Despite insolvency proceedings, Chinese shareholder Lingyun is determined to save Kiekert, the renowned inventor of central locking. Lingyun promises to secure liquidity and protect creditors, while the Wuppertal local court has appointed insolvency administrator Joachim Exner to oversee the process.
Kiekert, known for its pioneering role in central locking systems, has faced financial difficulties, leading the court to initiate insolvency proceedings. However, Lingyun, a major shareholder, has stepped forward, aiming to stabilize the company's future. Lingyun's commitment comes despite calls from Kiekert's board for the Chinese investor's exit.
Business operations at Kiekert continue uninterrupted, with employee salaries secured until November. Lingyun's plan involves eliminating the insolvency reasons and satisfying creditors. Leading these negotiations is Joachim Exner, a specialist in insolvency law and restructuring, particularly in the automotive supplier industry. Appointed by the court, Exner is working to lift the insolvency reasons and fulfil payment obligations.
Lingyun's determination to save Kiekert is a positive sign for the company's future. With business operations running smoothly and salaries secured, the focus is now on addressing insolvency reasons and satisfying creditors. The appointment of Joachim Exner as the provisional insolvency administrator further boosts confidence in navigating these challenging times.
Read also:
- Orioles' 2025 Turnaround Powered by Late-Season Pitching Acquisitions
- The Cost of Speech is Zero, True Strength Lies in Unity
- Aiming to simplify the move towards cleaner automobiles, the newly established ministry plans to take direct action with Pannier-Runacher, Létard, and Vautrin at the helm.
- "The imperfect yet essential documentary, "Planet of the Humans," raises challenging and uncomfortable inquiries"
