VIDA Paper AB files an application about company reconstruction

Nov 08, 2012. /Lesprom Network/. The Board of Directors for VIDA Paper AB has filed an application to take the company into reconstruction. The reason for this application is that the crediting bank has given notice of termination of the loans and credits to VIDA Paper AB with immediate effect. Until to date VIDA Paper AB has fullfilled its obligations regarding payments without issue, as the company said in a press release received by Lesprom Network. By taking the company into reconstruction VIDA Paper will allow time for investigation into the possibility of taking the business further. The company reconstruction ay Vida Paper AB does not affect the VIDA group economically.