Alno’s administrator, Prof Dr Martin Hörmann, has revealed that he is seeking damages from former board members of Alno AG on behalf of its creditors.
In a statement, Hörmann said that the administrators’ 10-month investigation revealed that Alno AG was already insolvent in 2013.
Hörmann will now take measures to seek claims for damages against former board members and former managing directors of Alno AG.
The amount of the liability claims against former board members and managing directors of Alno’s subsidiaries, including the UK arm, are not yet known.
He will also seek claims for repayment against suppliers and customers following the insolvency proceedings.
The administrators’ team is currently in the process of ascertaining the total demands on the estate.
Alno AG filed for administration in July 2017, with production halted in September and the company announcing its closure in November. A buyer was found for the business in December with production restarting under the new management in January this year.