Court approves VARTA restructuring plan for sustainable future
The Stuttgart Regional Court upheld VARTA AG’s restructuring plan, dismissing shareholder complaints as inadmissible
The restructuring plan for VARTA AG under the German Corporate Stabilisation and Restructuring Act (StaRUG) has received final approval from the Stuttgart Regional Court. Shareholder challenges, including those from Schutzgemeinschaft der Kapitalanleger e.V., were rejected, with the court ruling that the complainants failed to show credible harm resulting from the proceedings.
VARTA can now implement its capital measures as outlined in the plan, paving the way for long-term stability. Chief Executive Officer Michael Ostermann remarked, “We can now fully focus on restructuring VARTA AG and building a sustainable future.” He expressed gratitude to Dr Frank Schäffler and the Grub Brugger team for their support.
Dr Schäffler, partner at Grub Brugger, commented, “The courts have affirmed our legal approach, marking a critical milestone in VARTA’s sustainable restructuring.”
Grub Brugger advised VARTA through the StaRUG process, with a team led by Dr Schäffler and supported by partners and associates across reorganisation and restructuring Dr Jasmin Urlaub (partner), Dr Thilo Schultze (partner), Dr Ulrich Lägler (partner), Dr Philipp Schwarz (senior associate) and Theresa Glauner (associate). The decision represents a significant step in securing VARTA’s financial and operational future.