Royal Imtech N.V. files for suspension of payments
Royal Imtech N.V. announces it has today filed a request to be granted a suspension of payments (‘surseance van betaling’) with the District Court Rotterdam. The court has granted the request and has appointed administrators ('bewindvoerders').
In its press releases of 4, 5, 6 and 10 August, Royal Imtech N.V. already announced it was evaluating the situation and its consequences. It also announced it was considering all options in view of the fact that an agreement with financiers on additional financing could not be reached and specifically options to preserve as much of the group as possible. Unfortunately the Board of Management and the Supervisory Board of Royal Imtech N.V. had to conclude that it is inevitable to file for suspension of payments ('surseance van betaling') today.
“It is very disappointing that after all the efforts of all involved it has not proven possible to avoid this situation. Filing for suspension of payments now may optimise the chances that substantial parts of the Imtech Group may continue in the interest of all stakeholders and specifically our employees. We thank our shareholders that have loyally supported our company through challenging times”, Frans Cremers (Chairman of the Supervisory Board) and Gerard van de Aast (Chairman of the Board of Management) said on behalf of the entire Supervisory Board and Board of Management.
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