Next Stage in KTM Restructuring Process

On Friday, the examination day sessions of KTM AG and the two also insolvent subsidiaries KTM Components GmbH and KTM Research and Development GmbH will take place at the Ried im Innkreis Regional Court. Afterwards, it will be clear to what extent the registered claims are.

KTM Bankruptcy: So Far About 5,400 Creditors

So far, just under 5,400 creditors have registered claims, including around 3,600 employees. The decisive date will then be February 25, when the creditors will vote on the restructuring quota. KTM recently offered 30 percent and wants to pay within two years. At the moment, the factory is at a standstill. The industrialist Stefan Pierer's group alone is said to owe banks 1.3 billion euros. Meanwhile, Pierer himself is moving operationally into the second row: On Thursday evening it was announced that he will only be co-CEO at both KTM AG and the parent company Pierer Mobility, handing over the CEO chair to the previous co-CEO Gottfried Neumeister.

(APA/Red)

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