Germany

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German Luxury Fashion House Strenesse Files For Insolvency

German luxury fashion company Strenesse, once known for dressing the German national soccer team at official events, has filed for insolvency, it said on Wednesday, Reuters reported. The family-owned company, which has been struggling with its finances b ...

Daily Headline - global.abi.org - 04/16/2014 - 23:06 - 0 comments

Germany's Strauss Attracts Potential Buyers, Paper

Strauss Innovation, a German chain of small department stores, has attracted several potential buyers after it sought court protection from creditors in January to try to rescue its business, a German magazine said on Saturday, quoting its administrator, ...

Daily Headline - global.abi.org - 04/13/2014 - 23:00 - 0 comments

Lufthansa Pilots on Three-Day Strike Over Retirement Terms

Deutsche Lufthansa AG pilots Wednesday began what could become the longest walkout in the German airline's history, grounding 3,800 flights over the next three days, in a protest over changes to retirement benefits, The Wall Street Journal repor ...

Daily Headline - global.abi.org - 04/02/2014 - 22:00 - 0 comments

German Financial Watchdog Bites Back

The Federal Financial Supervisory Authority, known as BaFin, has long been criticized as lax on banks and cowed by politicians. But recently, BaFin has started making bankers squirm, The Wall Street Journal reported. The regulator has publicly browbe ...

Daily Headline - global.abi.org - 03/27/2014 - 22:08 - 0 comments

Lufthansa Hit by German Airport Strike

Deutsche Lufthansa said Wednesday that a strike planned for Thursday at Frankfurt airport and six others in Germany would cost it millions of euros in damages and force the cancellation of close to 600 flights, The Wall Street Journal reported. Trade ...

Daily Headline - global.abi.org - 03/26/2014 - 20:51 - 0 comments

RENA Enters Insolvency Proceedings Under Self-Administration

Wet chemicals equipment processing specialist, RENA, has started insolvency proceedings under self-administration as it attempts to restructure after failing to gain a financing solution for debts encountered at a subsidiary, SH+E, PV-Tech reported. The ...

Daily Headline - global.abi.org - 03/26/2014 - 20:57 - 0 comments

German LDK Subsidiary, Sunways, Enters Insolvency For Second Time

Sunways, a German subsidiary of stricken Chinese firm LDK Solar, has entered insolvency proceedings for the second time, PV-Tech reported. The module, cell and inverter manufacturer said it would file for insolvency on 21 March at a court in Konstanz. Th ...

Daily Headline - global.abi.org - 03/23/2014 - 10:12 - 0 comments

IVG Creditors Owed Over $4.4 Billion Agree Debt-Equity Swap

IVG Immobilien AG (IVG), once Germany’s biggest real estate company, will be handed over to creditors after lenders approved a plan to restructure 3.2 billion euros ($4.4 billion) of debt, Bloomberg News reported. Creditors voted today in a court-supervi ...

Daily Headline - global.abi.org - 03/20/2014 - 22:13 - 0 comments

German Court Validates Participation in Euro Zone Bailout Fund

Germany’s highest court ruled on Tuesday that the country’s government may participate in a fund set up to help financially stricken countries in the euro zone, the International New York Times reported. The decision is a defeat for skeptics of the e ...

Daily Headline - global.abi.org - 03/18/2014 - 21:29 - 0 comments

France And Germany Squabble Over Who Pays For EU Banking Union

France and Germany are squabbling over who should foot the bill for Europe’s banking union, with Paris fearing its banks will pay the biggest share towards a €55bn rescue fund, the Financial Times reported. As the EU enters a potentially decisive wee ...

Daily Headline - global.abi.org - 03/17/2014 - 22:48 - 0 comments

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