29 September 2009, Frankfurt - DyStar Textilfarben GmbH,
DyStar Textilfarben GmbH & Co. Deutschland KG as well as DyStar Holdings
GmbH, global providers of dyes, auxiliaries and services for the textile and
leather processing industry, announced that they have filed an insolvency
petition yesterday with the Local Court Frankfurt am Main for the company’s
business operations located in Germany.
DyStar’s insolvency filing includes the company’s sites in
Frankfurt, Leverkusen, Brunsbüttel, Geretsried, and Ludwigshafen, which
combined employ about 1,300 people. Following DyStar’s petition filing, the
Local Court in Frankfurt am Main appointed Dr. Stephan Laubereau of Pluta
Rechtsanwalts GmbH as preliminary insolvency administrator over the estate of
DyStar Textilfarben GmbH & Co. Deutschland KG and Miguel Grosser of JAFFÉ Rechtsanwälte
Insolvenzverwalter as preliminary insolvency administrator over the estate of DyStar
Textilfarben GmbH. The preliminary administrators are meeting with DyStar management
at the registered offices of DyStar Textilfarben GmbH & Co. Deutschland KG
and DyStar Textilfarben GmbH in Frankfurt am Main/Höchst to analyse the actual
situation.
The insolvency filing became necessary after the companies
exhausted alternative solutions to address their liquidity pressures.
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