Sat. Jun 22nd, 2024
Crisis Manager Working on Restarting Bus Builder Van Hool in Lier, No Bankruptcy Filing Expected Today

Van Hool crisis manager Marc Zwaaneveld stated that the company will continue to work on its transformation plan to avoid bankruptcy. 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. 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 Van Hool family is in a dispute over shares and must find an agreement by 12 o’clock today or risk moving forward with plan B to sell the company without existing debts. Insolvency specialist Dominique De Marez believes that a transfer under judicial authority is the best option for Van Hool, which would allow for the sale of viable parts without 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.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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