Brief: iQ International To Apply For Composition Moratorium

iQ International AG

15/03/2021 06:28

March 15(Reuters) - IQ INTERNATIONAL  IQL.DE  
    * SAID ON FRIDAY IT WOULD APPLY FOR PROVISIONAL COMPOSITION
MORATORIUM WITH COMPETENT COURT IN SWITZERLAND
    * BACKGROUND OF THIS IS A POTENTIAL OVER-INDEBTEDNESS OF
COMPANY
    * EXPECTS THAT COURT WILL APPOINT COMMISSIONER WHO WILL
OVERSEE
BUSINESS ACTIVITIES AND MANAGE THE DEBT RESTRUCTURING
PROCEEDINGS
    * SUBSIDIARIES ARE NOT INCLUDED IN APPLICATION FOR
COMPOSITION
MORATORIUM

 Source text for Eikon:  urn:newsml:reuters.com:*:nPexXqNkXa
    
 Further company coverage:  IQL.DE  
   


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