AE&E Files Insolvency Application

IndustrialsConstruction ♦ Published: November 24, 2010; 12:11 ♦ (Vindobona)

After weeks of negotiations between AE&E's creditor and the banks, no continuation is possible. Talks ended without reaching an agreement.

AE&E Files Insolvency Application / Picture: © AE&E

Discussions between the negotiators over A-Tec's subsidiary, as was previously foreseen, have failed. Possible takeover by various investors has also failed. Investors from Japan, Hong Kong, South Korea were already in midst of serious talks and Austrian industrialists also had expressed interest, but AE&E will now file an application for restructuring without self-administration…