Brief: Electrovaya Announces Structured Insolvency Proceedings At Litarion GmbH

Electrovaya

25/01/2018 22:00

Jan 25 (Reuters) - Electrovaya Inc  EFL.TO : 
    * ELECTROVAYA ANNOUNCES STRUCTURED INSOLVENCY PROCEEDINGS AT 
LITARION GMBH 
    * ELECTROVAYA INC - CO'S SUBSIDIARY LITARION GMBH HAS 
COMMENCED A 
VOLUNTARY STRUCTURED INSOLVENCY PROCESS 
    * ELECTROVAYA INC SAYS DUE TO THE INSOLVENCY PROCESS COMPANY 
EXPECTS TO RECORD A NON-CASH CHARGE IN Q2 OF FISCAL 2018 
    * ELECTROVAYA - INSOLVENCY PROCESS BY UNIT EXPECTED TO 
RESULT IN 
APPOINTMENT OF PROVISIONAL RECEIVER/LIQUIDATOR OF LITARION, 
PROPERTY BY GERMAN COURT 
    * ELECTROVAYA INC SAYS EXPECTS THAT LEGAL PROCEEDINGS WILL 
NOT 
IMPACT COMPANY'S ABILITY TO CONTINUE TO FULFIL CURRENT AND 
FUTURE CUSTOMER ORDERS 
    * ELECTROVAYA INC - EXPECTED THE GERMAN COURT WILL SHORTLY 
ASSIGN 
PRELIMINARY INSOLVENCY MANAGER TO MANAGE TRANSITION OF 
LITARION'S OPERATIONS AND WORK 
 
Source text for Eikon:  ID:nCCNDHlKSa  
Further company coverage:  EFL.TO  
 
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