Legal Proceedings Report • Oct 24, 2012
Legal Proceedings Report
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PRESS RELEASE - Regulated information
Wetteren (Belgium), 24 October 2012
Today the Commercial Court of Brussels has decided to authorize the sale of the Luxembourg branch of Photo Hall Multimedia NV to Krëfel.
Hifi International SA, as this branch is called, will be transferred to the new owner as soon as possible. Regarding the sale price, an agreement is to be reached with the lenders. The sale price will amount between EUR 1.5 million and EUR 2.8 million and will serve to repay a portion of the debts of Photo Hall Multimedia NV to the lenders.
With regard to the other assets of Photo Hall in Belgium, the mandataries assigned by the court to find a buyer for the activities of the Retail Group, expect to bring more clarity during the next few weeks.
There is no financial commitment from Spector Photo Group NV to the creditors of its subsidiary Photo Hall Multimedia NV.
For additional information, please contact:
Stef De corte, CEO
Spector Photo Group NV Kwatrechtsteenweg 160 B -9230 Wetteren, Belgium Telephone: +32 9 365 98 10 Email: [email protected] - internet: www.spectorphotogroup.com
This press release is an English translation of the official Dutch version.
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