Wirecard's Business Activities Continue Amid Insolvency Filing

Datum : 29/06/2020 @ 07h45
Quelle : Dow Jones News
Name : Wirecard AG (WDI)
Kurs : 3.2265  0.1265 (4.08%) @ 17h35
Wirecard share price Chart

Wirecard's Business Activities Continue Amid Insolvency Filing

Wirecard (XE:WDI)
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   By Mauro Orru 
 

Wirecard AG said Saturday that its business activities are continuing despite the filing for insolvency in a court in Munich, Germany.

The German fintech company said the decision of whether to open insolvency proceedings is still under review, adding that a provisional insolvency administrator should be appointed in due course.

Wirecard filed for insolvency on June 25, days after revealing that more than $2 billion in cash missing from its balance sheet probably didn't exist.

The company said it has discussed measures with authorities in the U.K. after the Financial Conduct Authority froze the operations of Wirecard Card Solutions, Wirecard's U.K. operation.

 

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

 

(END) Dow Jones Newswires

June 29, 2020 01:30 ET (05:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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