Bio-Hybrid Continues Search For Investors Under Insolvency Law Protection

Bio-Hybrid GmbH yesterday filed a petition for insolvency on its own behalf. The Nuremberg insolvency court has appointed Dr. Hubert Ampferl, an experienced restructuring expert from the law firm Dr. Beck und Partner, as the preliminary insolvency administrator. Business operations will continue seamlessly within the scope of the insolvency petition proceedings.

The senior management and the appointed preliminary insolvency administrator intend to continue the previously initiated restructuring process and to complete it successfully by the beginning of July. Bio-Hybrid GmbH is continuing its negotiations with potential investors in order to complete the development of the Bio-Hybrid and to bring the innovative pedelec to market.

“In recent months, many national as well as international investors have indicated their interest in an investment. Final discussions have been delayed on account of the COVID 19-related restrictions, which resulted in the future financing of the start-up no longer being secured,” says Gerald Vollnhals, General Manager of Bio-Hybrid GmbH. As before, he added, there is great interest in the Bio-Hybrid, so the company is continuing its work at full stretch and is confident that a good solution with a new structure for Bio-Hybrid GmbH can be found with a little more time.

As before, the Bio-Hybrid can be ordered with a down payment of 490 euros. Customers will incur no risk because the down payment will be returned to them in the event that no delivery is made.