`ESCADA Deutschland Vertriebs GmbH´ applies for opening of insolvency proceedings

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Munich,  November 17, 2009 - `ESCADA Deutschland Vertriebs GmbH´, a 100 percent subsidiary of ESCADA AG, on November 16, 2009 filed a petition with the competent Regional Court in Munich as insolvency court for insolvency proceedings to be opened. The petition follows as a consequence of insolvency proceedings being opened over ESCADA AG´s assets on November 1, 2009 in Aschheim/Germany. On November 17, 2009 at 10 a.m. the Court ordered preliminary administration of the insolvent's assets and appointed Mr. Christian Gerloff, Munich, to act as preliminary insolvency administrator.

Because of potential liability risks the company had not been sold under the sale and transfer agreement to the trust of the Mittal family on November 5, 2009. The operative business of 'ESCADA Deutschland Vertriebs GmbH' shall be transferred shortly as part of an asset deal.

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ots Originaltext: ESCADA AG
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Further inquiry note:
Investor Relations
Yara Kes
Tel.:    +49 (0) 89 9944 1336

Frank Elsner Kommunikation für Unternehmen GmbH
Frank Elsner
Tel.: +49 - 54 04 - 91 92 0

Branche: Clothing
ISIN:      DE0005692107
WKN:        569210
Index:    CDAX, Classic All Share, Prime All Share
Börsen:  Berlin / Open Market
              Hamburg / Open Market
              Stuttgart / Open Market
              Düsseldorf / Open Market
              Frankfurt / regulated dealing/prime standard
              München / regulated dealing

Weitere Meldungen: ESCADA AG

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