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8 May 2017

Ammono enters insolvency as court-appointed liquidator invites auction bids

Ammono S.A. in Warsaw, Poland, which produces bulk gallium nitride (GaN) using ammonothermal technology, has entered into insolvency proceedings. The court-appointed liquidator has invited interested parties to submit written proposals to purchase the firm via an auction process.

The minimum selling price is PLN20m (zlotys). All documents for an auction tender should be submitted in Polish, together with a security deposit of PLN1m (zlotys).

Proposals should be submitted on or before 22 May, either personally at the registry office of the District Court for the capital city of Warsaw, 10th Commercial Division (Sąd Rejonowy dla m. st. Warszawy, X Wydział Gospodarczy), ul. Czerniakowska 100A, 00-454 Warszawa, or via a registered letter to the court’s address. Proposals will be reviewed at the courthouse (room 120) at 1pm on 24 May.

The assessment of the business, tender rules and financial statements are available from the liquidator’s office (at ul. Kotsisa 2/4 lokal 14, 03-307 Warszawa; Tel: +48 22 8141020 or +48 22 6145288) upon prior appointment and execution of a non-disclosure agreement.

Tags: Ammono HVPE GaN substrates

Visit:  www.ammono.com

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