KTM improves renovation plan and offers creditors 30 percent quota in one fell swoop

“After the meeting of the creditor committee in the renovation procedure of KTM AG on February 10, 2025, KTM AG today improves the renovation plan offered so far that the creditors are offered the quota of 30 percent as” barquote “, which until April 15, 2025 The renovation recent person has to be deposited, ”says a broadcast. That means: the quota is paid in one fell swoop. If you assume around 1.8 billion euros in debt, 540 million euros are due for the quota.

“The investor process is currently in the crucial phase. According to the concept of KTM AG, the resumption of production is to be financed by the end of February 2025 and the cash quota for creditors will be financed by the end of March 2025. The necessary funds should be applied by the owners, new investors and banks, ”also says.

Refurbishment recipient Peter Vogl says: “If the renovation plan is rejected and bankruptcy proceedings on the assets of KTM AG are opened, the expected quota for the creditors from the destruction of the KTM group is only around 15 percent.”

The report and the reports on this will be completed by February 17, 2025 and presented to the court. The offer of KTM AG is therefore much better for the creditors.

The alternative offer to the creditors, it also says that from Whitebox Advisors LLC, New Yorkit was presented “cannot be implemented in accordance with applicable Austrian law. In addition, the alternative offer only offers the creditors the possibility of improvement if they do without their quota in a first step and also grant financing.”

D-Day 25. Februar

The hearing on the vote on the renovation plan will take place on February 25, 2025 before the regional court in the Innkreis.

By Editor

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