Van Hool Faces Insolvency as Dispute Over Shares Rages On: Crisis Manager’s Plan Unlikely to Succeed due to High Debt Burden

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

As the Van Hool family faces a dispute over shares, crisis manager Marc Zwaaneveld has stated that he will continue to work in line with the transformation plan to avoid bankruptcy. Despite his efforts, bankruptcy seems inevitable due to Van Hool’s high debt burden and the lack of fresh capital from investors or government entities.

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. The Flemish government supports this as the most realistic solution, which may involve a guided bankruptcy process.

Insolvency specialist Dominique De Marez believes that a transfer under judicial authority is the best option for Van Hool, as it allows for the sale of viable parts without the 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, the financial situation of Van Hool 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.

Zwaaneveld has stated that he will continue working towards finding a solution by March 31st in order to avoid bankruptcy at all costs. Despite his efforts and those of potential buyers like Guido Dumarey and VDL Bus & Coach , it seems inevitable that insolvency will occur due to Van Hool’s high debt burden and lack of new capital infusion.

The court date scheduled for today has been postponed as Zwaaneveld focuses on finding an alternative solution before declaring bankruptcy officially. The Flemish government supports this approach as they believe it is more realistic than other options.

Dominique De Marez suggests that a transfer under judicial authority would be best for Van Hool as it allows them to sell their viable parts without being burdened by their debts.

As tensions rise between family members over shares in Van Hool , it is becoming increasingly clear that drastic measures will be necessary to save both the company and its employees.

Zwaaneveld’s original transformation plan called for 95 million euros of new capital infusion but may not be enough given current circumstances.

The role of the government in supporting a restart after a guided bankruptcy process is crucial if there is any hope of saving both Van Hool and its employees.

It remains uncertain whether these efforts will succeed or if insolvency will ultimately become inevitable due to van hoo’s financial situation which leaves them with debts amounting to approximately 300 million euros .

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