The Social Chain

The management board of The Social Chain has filed an insolvency plan with the Local Court Berlin (Charlottenburg) that seeks a restructuring by transferring all shares to MERIDIANA Capital Markets SE or investors designated by it. The aim is to achieve a substantially better position for the non-subordinated creditors compared with an ordinary liquidation by providing funds. Even if the plan is approved, shareholders would receive no payments because available funds are insufficient to satisfy all insolvency claims; a creditors’ discussion and voting date has yet to be set. » Altro su finanzen.net

The management board of The Social Chain AG (in insolvency) has submitted an insolvency plan for restructuring to the Local Court of Berlin‑Charlottenburg. The plan envisages a takeover of all shares by MERIDIANA Capital Markets SE or investors designated by it, who are to provide funds to materially improve the position of non‑subordinated creditors. Even if the plan is approved, no payments to shareholders will be possible because available funds are insufficient to cover all insolvency claims. Creditors will decide on the plan at a discussion and voting hearing to be scheduled by the court. » Altro su de.investing.com