DyStar Files For Bankruptcy
Germany-based DyStar Textilfarben GmbH, DyStar Textilfarben GmbH & Co. Deutschland KG and
DyStar Holdings GmbH -- global providers of dyes, auxiliaries and services for the textile and
leather processing industries -- have filed an insolvency petition with the Local Court Frankfurt
am Main for the company's Germany-based business operations. DyStar resolved to file for insolvency
after failed attempts to address liquidity pressures. Included in the filing are the company's
sites in Frankfurt, Leverkusen, Brunsbüttel, Geretsried and Ludwigshafen, which together employ
approximately 1,300 people.
The court has named Dr. Stephan Laubereau of Pluta Rechtsanwalts GmbH preliminary insolvency administrator over DyStar Textilfarben GmbH & Co. Deutschland KG; and Miguel Grosser of Jaffé Rechtsanwälte Insolvenzverwalter preliminary insolvency administrator over DyStar Textilfarben GmbH. The preliminary administrators will convene with DyStar management to evaluate the situation.
September 29, 2009