Creditors Give Q-Cells the Go-Ahead for Continuation

The creditors of insolvent photovoltaic company Q-Cells SE have unanimously approved that the company is to be continued. Insolvency administrator Henning Schorisch thus has the backing from the creditors to further pursue his plans. He will maintain operations of Q.CELLS and to drive forward a potential restructuring option, either via an investor solution or an insolvency plan.

The creditors of Q-Cells SE met in Dessau-Rosslau, where they were invited by the insolvency court to the first creditors’ meeting in the ongoing insolvency proceedings. At this first report meeting, the insolvency administrator informed the creditors on the status quo of the insolvency proceedings and submitted proposals concerning the further course of the insolvency proceedings for decision.

Moreover, Schorisch was unanimously confirmed in his office as insolvency administrator. The work carried out so far by the relevant parties was acknowledged as having been extremely successful.

“The backing of the creditors is an important signal indicating that the company can be rescued,” Schorisch emphasized. “After all, it shows the creditors’ belief in Q.CELLS’ future.”