Germany

Germany

Windreich subsidiary files for insolvency

GERMANY: Project development company WKU, a subsidiary of offshore German business Windreich, has filled for insolvency at the local court in Esslingen, Germany.

WKU has filed for insolvency
WKU has filed for insolvency

WKU held significant claims against Windreich that could not be met, which comes after Windreich filed for insolvency last week.

New Windreich managing director Werner Heer said: "Given the close connection of these two companies this was a logical step.

"With this measure, we can create more certainty with respect to the ongoing offshore projects for our investors. The offshore project I MEG continues without limitation."

WKU employs 31 people in Wolfschlugen and Hamburg.

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