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Van Hool’s Insolvency Looms: The Battle for Shares and the Search for a Solution

Crisis Manager Working on Restarting Bus Builder Van Hool in Lier, No Bankruptcy Filing Expected Today

Van Hool’s Insolvency Looms: The Battle for Shares and the Search for a Solution

The Van Hool family, embroiled in a dispute over shares, has until 12 o’clock today to resolve their differences. Failure to do so will see Marc Zwaaneveld and the company proceed with plan B – selling Van Hool without the existing debts. Although the Flemish government supports this solution as the most realistic option, it may involve a guided bankruptcy process.

Insolvency specialist Dominique De Marez believes that a transfer under judicial authority is the best option for Van Hool, as it allows for the sale of viable parts without the 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, despite these efforts, Van Hool’s financial situation remains dire, with debts amounting to approximately 300 million.

Zwaaneveld, crisis manager at Van Hool, has stated that he will continue to work in line with the transformation plan to avoid bankruptcy. 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 court date scheduled for today has been postponed as Zwaaneveld focuses on finding a solution by March 31.

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