Van Hool’s Race Against Time: Will Insolvency Be Averted?

Crisis Manager Working on Restarting Bus Builder Van Hool in Lier, No Bankruptcy Filing Expected Today

Van Hool crisis manager Marc Zwaaneveld has stated that the company will continue to work on its transformation plan to avoid bankruptcy. The scheduled court date for a possible bankruptcy declaration has been postponed as Zwaaneveld focuses on finding a solution by March 31. Despite his efforts, bankruptcy seems inevitable due to Van Hool’s high debt burden and lack of fresh capital from investors or government entities.

The Van Hool family, who are in a dispute over shares, have until 12 o’clock today to reach an agreement. If no solution is found, Zwaaneveld and the company will move forward with plan B to sell Van Hool without the existing debts. The Flemish government supports this option as the most realistic solution, which may involve a guided bankruptcy process.

Insolvency specialist Dominique De Marez believes that transfer under judicial authority is the best option for Van Hool as it allows for the sale of viable parts without associated debts. Potential buyers such as Guido Dumarey and VDL Bus & Coach are in discussions with Zwaaneveld to acquire Van Hool and potentially save jobs. However, Van Hool’s financial situation remains dire with debts amounting to approximately 300 million.

As the situation unfolds, it is clear that drastic measures will be needed to save the company and its employees. Zwaaneveld’s original transformation plan required 95 million euros of fresh capital, but the total amount needed may be higher. The government’s role in supporting a restart after a guided bankruptcy is crucial as the future of Van Hool and its employees hangs in the balance.

In conclusion, Marc Zwaaneveld, crisis manager at Van Hool, has stated that he will continue working on line with the transformation plan to avoid bankruptcy. The Flemish government supports this option as the most realistic solution which may involve a guided bankruptcy process.

The court date scheduled for today where bankruptcy could have been declared has been postponed as Zwaaneveld focuses on finding a solution by March 31.

Despite his efforts, bankruptcy seems inevitable due to Van Hool’s high debt burden and lack of fresh capital from investors or government entities.

The financial situation of Van Hool remains dire with debts amounting to approximately 300 million.

The insolvency specialist Dominique De Marez believes that transfer under judicial authority is the best option for Van Hool which allows for sale of viable parts without associated debts.

Potential buyers such as Guido Dumarey and VDL Bus & Coach are in discussions with Zwaaneveld to acquire Van Hoo

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