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BRIEF-Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft: impairment of DirectPhotonics Industries GmbH
October 7, 2016 / 6:11 AM / a year ago

BRIEF-Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft: impairment of DirectPhotonics Industries GmbH

Oct 7(Reuters) - DEWB AG Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG :

* Said on Thursday meeting of creditors of DirectPhotonics Industries GmbH had decided to sell all assets of the company to a third party bidder

* Die Deutsche Effecten- und Wechsel-Beteiligungsgesellschaft AG applied to the insolvency court to lift this decision

* If the decision is maintained by the court, ongoing negotiations of DEWB with other interested parties to jointly restructure DirectPhotonics Industries GmbH will fail

* As a result of the creditors’ meeting DEWB will make a precautionary impairment provision of 2.568 million euros ($2.85 million)

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