Wisemann Will continue the production.

Sportscar Manufacturer Wiesmann – Contract concerning transferred restructuring is concluded

The Wiesmann corporation will refrain from the application to dismiss the insolvency proceedings. In future a stock corporation will take over the sports car production. The largest shareholder of the Wiesmann GmbH in turn will take stake in the new company. In the meantime a contract concerning transferred restructuring with insolvency administrator Dr. Norbert Küpper has been concluded.

In order for the contract to be effective various requirements have to be met – the insolvency administrator however, has already filed an application for an extraordinary creditors‘ meeting for the 10th of January, 2014. The claimants will have to decide about the rehabilitation measures, with the goal of creating a new flying start for the Wiesmann corporation.

Source:Wisemann.