Corporate restructuring

Restructuring programme of Componenta Castings Oy has ended. All of Componenta Group’s restructuring programs have now ended.

Componenta Castings Oy has carried out payments required for premature ending of restructuring programme.

Componenta Castings Oy to end restructuring programme prematurely.

Componenta Corporation’s shares removed from Nasdaq Helsinki’s observation segment.

The restructuring programme of Componenta Corporation has ended upon the approval of the payment of restructuring debt carried out by the Company on 31 March 2021 by the supervisor and the provision of the supervisor’s final account of the restructuring programme to creditors.

Componenta Corporation announced about ending the restructuring programme prematurely.

Componenta Främmestad AB, based in Sweden, files an application for bankruptcy with the local district court.

The District Court of Helsinki confirmed the restructuring programmes of Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy).

The voting reports relating to the draft restructuring programmes for Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) were filed to the Helsinki District Court. A clear majority of creditors and their claims supported the draft restructuring programmes of Componenta Corporation and Componenta Castings Oy.

Componenta Wirsbo AB and Componenta Arvika AB have been declared bankrupt.
Bankruptcy process of Componenta B.V.

Componenta Wirsbo AB and Componenta Arvika AB will file for bankruptcy. The companies did not succeed in obtaining financing for the payment of restructuring debts.

The district court of Skaraborg made its decision regarding restructuring of Componenta Främmestad AB and approved the composition.

The District Court of Helsinki has at the request of the administrator of the corporate restructuring proceedings decided to continue processing the draft restructuring programmes for Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy). At the same time the Court has decided on the creditor categories and voting rights, and on starting the voting procedure. The administrator of the corporate restructuring proceedings for Componenta Corporation and Componenta Castings Oy filed amended draft restructuring programmes with the District Court of Helsinki on 12 June 2017.

Componenta Främmestad AB has filed an application to the Skaraborg district court for an extension of three months for the restructuring proceeding of Componenta Främmestad AB and for convening a composition hearing.

The administrator of the corporate restructuring proceedings of Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) has filed the draft restructuring programmes to the District Court of Helsinki.

Skaraborg district court has granted extension for restructuring proceeding of Componenta Främmestad AB until 1 June 2017.

The district court of Helsinki has decided on 26 January 2017 at the request of the administrator to postpone the deadline for submitting the draft restructuring programs of Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) till 31 March 2017.

Composition proposals for Componenta Wirsbo AB (30.12.2016) and Componenta Arvika AB (23.12.2016) have been approved.

The administrator of the restructuring proceedings of Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) has, as ordered by the District Court of Helsinki, on 16 December 2016 provided creditors a report of the debtor’s assets, liabilities and other undertakings (as per 30 September 2016) and on the circumstances that affect the financial position of the debtor and its expected development. Creditors of either of the companies have a right to, upon request, receive a copy of the report. All inquiries related to the report are to be addressed to krista.niemimen@castren.fi.

The district court has appointed Mika Ilveskero, Attorney-at-Law, from Castrén & Snellman Attorneys to act as the administrator in the restructuring proceedings of both Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy).

The district court of Helsinki has on 30 September 2016 accepted the applications for corporate restructuring and the restructuring proceedings have commenced accordingly.

Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) have received decisions for temporary interim interdiction (interdiction of repayment and interdiction of debt collection) from Helsinki district court on 9 September 2016 (attached).

Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) have complemented their restructuring applications with interim accounts 30 June 2016 of Componenta Corporation (as a separate company) that have been approved on 7 September 2016, and an auditors’ statement.

The Dutch subsidiary Componenta B.V. has been declared bankrupt on 2 September 2016.

The filings of the Swedish subsidiaries have been approved and the restructuring proceedings have started on 1 September 2016 in Componenta Främmestad AB and Componenta Wirsbo AB and on 2 September in Componenta Arvika AB.

• Componenta Corporation and Componenta Castings Oy (previously Componenta Finland Oy) were filed for restructuring in Finland
• Componenta Främmestad AB, Componenta Wirsbo AB and Componenta Arvika AB were filed for restructuring in Sweden
• Componenta B.V. was filed for bankruptcy in the Netherlands
• Componenta Dökümcülük Ticaret ve Sanayi A.S. in Turkey continues its operations without official proceedings.