German turbine producer Senvion's crisis is becoming more serious. Tuesday afternoon, the company informed in an announcement that it failed to achieve refinancing from its creditors and has thus filed a petition to begin so-called "preliminary self-administration proceedings" at the Hamburg insolvency court.
The petition concerns Senvion GmbH as well as its subsidiary Senvion Deutschland GmbH. The parent company of the Luxembourg-registered manufacturer, Senvion S.A., has not yet filed a petition but is expected to, concerning both itself, Senvion Topco and Senvion Holding.
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