Ladies and Gentlemen:
NEVS REORGANISATION IS OVER!
Time to put pen to paper and write the future!
After a quick chat with Alderman Anders Björk of the Vänersborg District Court this morning it has come to my knowledge that the District Court HAS approved NEVS application to exit reorganisation as of today April 15 2015!
No objections have been submitted from creditors or the Board of Creditors only Solid support.
This all bodes well for the future and is a testament that NEVS have played their cards right in their contact with creditors.
This will of course also be seen as positive regarding applications of loans and future (close in time) deals with other OEMs.
A press release regarding the Exit of reorganisation will be issued from the District Court later today. I am sure a Press Release will be issued from NEVS as well.
These press releases will be published here on Saabtala during the day.
Update: NEVS Press release here. Link to the District Courts ruling is included in the NEVS Press release.
NEVS Press release reads as follows
Nevs has exited the reorganization
The District Court of Vänersborg has today, April 15, 2015 decided that the reorganization of Nevs shall cease as the purpose of the reorganization is fulfilled.
The reorganization of Nevs was initiated August 29, 2014 for a period of three months. The reorganization was prolonged for a period of three months at two occasions, December 11, 2014 and March 11, 2015.
On March 23, 2015 the District Court of Vänersborg approved the composition proposal by Nevs after a vote where 98,2 percent of the creditors representing 98,6 percent of the amount of the debt was in favor for the composition. On April 14 The District Court’s approval of the composition became legally valid.
A short post I know. But really folks it holds the essence of something that will truly be brilliant!