Sunways : Start of insolvency proceedings concerning Sunways Production GmbH

By decision of 1 May 2014 the local court of Konstanz opened the insolvency proceedings concerning the assets of Sunways Production GmbH with registered office in Arnstadt/Germany. Sunways Production GmbH is a hundred percent subsidiary of Sunways AG (SWW:GR, SWWG.DE, ISIN DE0007332207) with headquarters in Konstanz/Germany. The court stated that insolvency reasons are given. The previous preliminary insolvency administrator, attorney at law Dr. Thorsten Schleich, Singen am Hohentwiel, of the law office Schleich & Kollegen, was appointed by the court as insolvency administrator. The creditors of Sunways AG were invited to report their claims to the insolvency administrator until 13 June 2014 in writing. The first meeting of creditors is to be held on 9 July 2014. Up to this date, a preliminary creditors' committee has been appointed by the court. The business operations of Sunways Production GmbH are currently stopped. Meanwhile, the insolvency administrator continues talks with potential investors who have expressed interest in acquiring the company as a whole or parts thereof.