Wirecard's Business Activities Continue Amid Insolvency Filing
By Mauro Orru
Wirecard AG said Saturday that its business activities are
continuing despite the filing for insolvency in a court in Munich,
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
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 email@example.com; @MauroOrru94
(END) Dow Jones Newswires
June 29, 2020 01:30 ET (05:30 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.