DF Deutsche Forfait AG

Legal Proceedings Report • Jan 17, 2017

News Details

Ad-hoc | 17 January 2017 13:36

DF Deutsche Forfait AG: Write-down against restructuring portfolio

DF Deutsche Forfait AG / Key word(s): Legal Matter

17-Jan-2017 / 13:36 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR, transmitted by
DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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DF Deutsche Forfait AG: Write-down against restructuring portfolio

• Reduced value of a receivable available to pay off insolvency creditors

• No direct implications on Group P/L

Cologne, 17 January 2017 - DF Deutsche Forfait AG (ISIN share:
DE000A2AA204, ISIN bond: DE000A1R1CC4) has to write down a claim included
in the "Restructuring Portfolio" presented in the insolvency plan dated 29
April 2016 by approximately EUR 4.9 million.

As confirmed by the company's legal advisors today, DF Deutsche Forfait
Group has lost the last instance court case against a member of the family
behind the debtor, a Dubai-based trading company; the court denied DF
Deutsche Forfait AG's attempt to collect the claim under a personal
guarantee originally extended by said individual. The underlying receivable
was carried in the portfolio based on a valuation of approximately EUR 4.9
million. It will now have to be written down in total, as the collection of
the outstanding amounts are possible only at the level of the trading
company's individual subsidiaries, which are not solvent, based on current
information. Consequently, the assets available to pay off insolvency
creditors will be reduced significantly. The entire restructuring portfolio
was originally valued at EUR 27.5 million for purposes of the insolvency
plan dated 29 April 2016.

The write-down will not directly impact DF Deutsche Forfait AG's Group P/L;
it will merely reduce the value of the restructuring portfolio set aside to
pay off the insolvency creditors. An indirect effect on the Group result
may occur if the realisation of the entire restructuring portfolio should
fail to generate at least EUR 24 million. In this case, the company may be
obliged to make a payment of up to EUR 0.8 million to its insolvency
creditors, depending on the actual amount generated by the realisation of
the restructuring portfolio.

DF Deutsche Forfait AG
Investor Relations
Karolin Bistrovic
Hirtenweg 14
82031 Grünwald
T +49 89 21551900-0
F +49 89 21551900-9
E investor.relations@dfag.de
http://www.dfag.de

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17-Jan-2017 CET/CEST The DGAP Distribution Services include Regulatory
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Language: English
Company: DF Deutsche Forfait AG
Hirtenweg 14
82031 Grünwald
Germany
Phone: +49 89 21551900-0
Fax: +49 89 21551900-9
E-mail: dfag@dfag.de
Internet: www.dfag.de
ISIN: DE000A2AA204, DE000A1R1CC4,
WKN: A2AA20, A1R1CC
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange

 End of Announcement    DGAP News Service