After the insolvency application to: Wirecard Board relies on the continuation of the business

after a balance-sheet scandal struggling payment processor, Wirecard continues despite the insolvency application to the future of the company. "The Board is o

After the insolvency application to: Wirecard Board relies on the continuation of the business

after a balance-sheet scandal struggling payment processor, Wirecard continues despite the insolvency application to the future of the company. "The Board is of the opinion that a continuation is in the best interest of the creditors," said the Dax group on Saturday in Aschheim near Munich.

The Board had asked for the Wirecard AG last Thursday a request for the opening of insolvency proceedings. The assessment of whether the insolvency proceedings are opened, lasts according to the company.

The business of the group's operating companies, including the licensed units will currently continue, it said further. It'll be reviewed on an ongoing basis, whether the insolvency applications for subsidiaries to be provided by the Wirecard group. Group companies, with the exception of a small development branch currently had no insolvency applications.

fraud on an international scale

The Wirecard Bank is not currently part of the bankruptcy proceedings, the payment transactions of Wirecard Bank was not affected, said the company. Payouts to traders of Wirecard Bank would continue to run without restrictions. You am also "in constant exchange with the credit organizations".

Wirecard Card Solutions Limited, based in Newcastle have been interrupted due to an order of the competent Supervisory authority (Financial Conduct Authority) "business," it said further.

Wirecard processes payment services provider non-cash money flows between traders and banks as well as credit card companies, on the other side. Worldwide, the group employs nearly 6,000 people.

Updated Date: 27 June 2020, 15:19

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