February 29, 2016
US German Pellets subsidiaries filed for bankruptcy
The US subsidiaries of German Pellets filed for bankruptcy on Thursday. After construction delays and cost overruns, the Louisiana Pellets Inc. and German Pellets Louisiana LLC cited chapter 11 protection in US Bankruptcy Court in Alexandria, La. The company missed a bondholders’ payment this year, after Wismar already entered the insolvency process. On February 11th 2016, Wismar’s German Pellets GmbH announced that an administrator has been appointed to assess the company’s holdings and the insolvency proceeding would begin in May 2016 in Germany. As Peter Leibold, chief executive of German ...
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