Market sources corroborated local press reports
that said the company applied to the Lörrach district court to open the protective shield procedure. The proceedings are preliminary insolvency proceedings that enable companies to improve their chances of sustainable restructuring.
The protective shielding process can take a maximum of three months and after the deadline a reorganization plan is submitted to the court. If it is approved, the company can be saved and if not, normal insolvency proceedings follow.
Aluminium Rheinfelden did not...