2 Nov 2012 15:07
TREVERIA PLC
("Treveria" or "the Company")
Silo E (ABN Amro; valuation €477 million; loan €390 million; securitised)
Further to the announcement made on 26 October 2012, Treveria announces that it has received confirmation that the insolvency court of Frankfurt am Main has issued a court order appointing an expert who shall provide an opinion to the court on, amongst other things, whether there is any detriment to the creditors when granting debtor-in-possession proceedings. In addition, the insolvency court of Frankfurt am Main ordered an automatic standstill of all enforcement actions against the German Silo E companies. Treveria has been advised that it is a positive sign that the insolvency court of Frankfurt am Main has so far not appointed a preliminary insolvency administrator keeping all options open for debtor-in-possession proceedings. This is considered to be the best alternative to preserve the value of the Silo E property portfolio for creditors and stakeholders as a whole.
Further information, please contact:
IOMA Fund and Investment Management Limited
Graham Smith +44 (0) 1624 681250
Singer Capital Markets Ltd
James Maxwell/Nick Donovan +44 (0) 20 3205 7500