For a long time, Lilium tried to get government support in Germany. From mid-October but it is clearneither the federal government nor the Free State of Bavaria receives any money. Lilium filed last week as a competitor bankruptcy for two of their companies in the hope that he will be able to do this under self-sufficiency. And that is exactly what the Weilheim district court has now approved. Self-management aims to maintain and continue the company. The management remains responsible and guides the company through the process with the support of restructuring experts.
The autonomous upgrade comes at a time when the first two Lilium Jets, a seven-seater vertical electric aircraft, are in final assembly. The fuselage and wings of the third aircraft are currently being assembled by aircraft manufacturers Aciturri and Aernnova. The Company’s current order pipeline includes firm orders, reserves, options and letters of intent for more than 780 Lilium Jets for operators in the United States, South America, Europe, Asia and the Middle East.
Work in Lilium’s subsidiaries continues accordingly, and the more than 1,000 employees committed to the program’s next major milestone, the first manned flight, have been told about the information about the continuous payment of wages. The company has also contacted the affected suppliers and explained the expectations and procedures to them.
The court has appointed two lawyers with experience in restructuring, Prof. Dr. Gerrit Hölzle and Dr. Thorsten Bieg, appointed to the boards of the German subsidiaries as Chief Insolvency Officers (CIOs). Both have already advised a large number of companies in critical situations. Most recently they worked for Senvion and The Social Chain AG, among others. You will now be in charge of the restructuring of Lilium’s German subsidiaries.
The Weilheim District Court has also appointed lawyer Ivo-Meinert Willrodt, managing partner of Pluta Rechtsanwalts GmbH, as temporary administrator. The restructuring expert is a lawyer and an expert in bankruptcy and restructuring law and has worked as a trustee for, among others, Sono Motors, a solar car startup and manufacturer an EMT drone. His job is to protect the interests of the creditors in the proceedings.
Lilium’s CEO, Klaus Roewe, welcomed the appointments: “With the support of the appointed trustee and our restructuring experts, we at Lilium remain fully focused on the post-emergence restructuring with new investments to support a journey All-electric Lilium Jet to certification and commissioning. .”
Lilium has also brought in the business consultancy KPMG. It is said that she is looking for buyers or investors for Lilium. Because although Lilium believes that it is close to the finish line with the construction of the first aircraft, investors have already pumped 1.5 billion euros into the startup, which was founded in 2015. O recently they had hesitated to get their game on again, which is why Lilium had been hoping for state support.
2024-11-05 15:35:00
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