WUS: The Rise & Fall Of Fortis

WUS: The Rise & Fall Of Fortis

Postby TemerityB » January 26th 2018, 10:55am

Just posted at WUS, written in their usual dry, fawning style; this is the capper on the article:

Sadly, on November 24, 2017, Swiss newspapers reported that Fortis is about to fold. Fortis is in financial difficulties and has applied for the definitive moratorium (definitive Nachlassstundung in Swiss). The moratorium was approved by the Civil Court of Solothurn-Lebern on 20 November. It extends over six months and lasts until May 20, 2018. As part of the moratorium, a debt restructuring agreement may be negotiated with the creditors to provisionally secure the legal or economic existence of the company. During the probate proceedings neither bankruptcy nor enforcement on seizure or pledge are possible.

We wish FORTIS all the best!

I only hope Fortis doesn't end up in the hands of ... well ...

http://www.watchuseek.com/flieger-frida ... ll-fortis/
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