Court opens insolvency proceedings for Photon Europe - report

(SeeNews) - Dec 14, 2012 - The district court in Aachen opened preliminary insolvency proceedings for German publisher Photon Europe GmbH, PV-Tech reported yesterday, citing an official court statement.

According to the statement, Andre Seckler has been appointed provisional liquidator, while Annegret Kreutzmann, CEO of Photon Europe, is to represent the publisher in the insolvency proceedings.

No details were provided on the type of insolvency, so it is still unclear whether Photon Europe will continue its operations, PV-Tech further said.

Last week, pv magazine reported that the court was investigating Photon Europe for delayed filing of insolvency. The information was confirmed with the prosecutor’s office, triggering speculations about the financial situation of the publisher and the imminent insolvency.

However, Photon Europe has given no official explanation of the matter so far.

According to an earlier report of local newspaper Aachener Nachrichten, the publishing house planned to cut jobs, due to the weak solar market.

Photon Europe’s publications include PV magazines Photon, Photon International and Photon Profi.

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