Aug 16, 2012. /Lesprom Network/. The insolvency plan of Pfleiderer AG was disclosed following its successful examination by the responsible Düsseldorf District Court. It is thus now accessible for the parties involved in the proceedings. The court has set the date of September 12, 2012 for a discussion-and-voting meeting at which the insolvency plan will be voted upon, as the company said in the press release received by Lesprom Network. The implementation of the plan will essentially lead to the company’s comprehensive debt relief and release from financial liabilities, as well as to the creation of a sound capital base. As previously announced on August 3, 2012, the insolvency plan calls for the share capital of Pfleiderer AG to be reduced to zero in order to eliminate the excessive indebtedness in the balance sheet. The share capital will subsequently be increased by means of cash and non-cash contributions. The new shares will be subscribed to exclusively by Atlantik S.A., a holding company specialized incorporate restructuring and domiciled in Luxembourg, which will then be the sole shareholder of Pfleiderer AG. The new shares will not be traded on a stock exchange; in fact, Pfleiderer aims to have its shares delisted. As subordinate creditors, the current shareholders and the holders of the hybrid bond will no longer hold a stake in the company. In the context of the insolvency plan, Atlantik S.A. has undertaken to take over most of the financial liabilities of Pfleiderer AG from its financial creditors and subsequently to relieve the company of most of its debt. Following the implementation of all these measures, Pfleiderer AG would have a sound capital and financing base that would be capable of success in the market. This would create the right conditions to continue and strengthen the upward development in the business operations of the Pfleiderer Group. The Pfleiderer Group manufactures engineered wood, surface finished products and laminate flooring.