Walsum LWC mill insolvency to be heard in October

摘要

The regular insolvency case of Papierfabrik Walsum will probably be heard on 1 October. The proceedings were to have begun on 1 September but the company gained an additional month by extending the period of insolvency benefits, said Kai-Ulrich Hasskerl, spokesman of the administrators, the lawyers' practice of HRM Henneke Ropke Partnerschaft Rechtsanwalte. The petition for extension needed the consent of the German employment office as well as the debtors'committee. Meanwhile, the LWC paper mill has been functioning as usual. "The machines haven't stood still and they shouldn't either", Mr Hasskerl said. Renowned buyers have continued to place orders with the company and the company is happy to receive every order. However, it cannot give any assurances for the long term because even if the mill continues to run, the prospective buyer might change the product portfolio and cease to produce magazine paper.