Vivacon AG

EANS-Adhoc: Subsidiaries of Vivacon AG file for insolvency

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Cologne, January 7th 2010. The two subsidiaries of the group of Vivacon AG (ISIN 000604 8911), Vivacon Denkmal Objekt I. GmbH & Co.KG und VD Berlin-Mitte Luisenstadt GmbH & Co.KG, will file for insolvency at the local court in Cologne. The two subsidiaries are single purpose companies focused only on the development of a single development project "Luise" in Berlin which originally has been part of the purchase agreement regarding the development business. After the investor has exercised his contractual right of withdrawal from the purchase of this project the solvency of the two project companies could not have been sustained. The existing liquidity gap could not be bridged in short time.

The insolvency was filed in the context of the current restructuring of Vivacon group.

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ots Originaltext: Vivacon AG
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Investor Relations
Telefon: +49 (0)221 1305621-0

Branche: Real Estate
ISIN:      DE0006048911
WKN:        604891
Index:    CDAX
Börsen:  Berlin / free trade
              Hamburg / free trade
              Stuttgart / free trade
              Düsseldorf / free trade
              München / free trade
              Frankfurt / regulated dealing/general standard

Weitere Meldungen: Vivacon AG

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