Lilium Says Principal German Subsidiaries Will Apply For Self-Administration Proceedings In Next Few Days With Competent Court In Germany; Proceedings Driven By Insolvency At Lilium Subsidiaries In Germany
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Lilium's principal German subsidiaries are set to apply for self-administration proceedings due to insolvency issues. This move follows a failed loan approval process with KfW in the German parliament.
October 24, 2024 | 9:03 pm
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Lilium's German subsidiaries are entering self-administration due to insolvency, following a failed loan approval process with KfW. This could impact Lilium's financial stability and operations.
The insolvency of Lilium's German subsidiaries and the subsequent self-administration proceedings indicate financial distress. The failure to secure a loan from KfW exacerbates the situation, likely leading to negative sentiment and potential short-term stock price decline.
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