January 25, 2018 / 10:29 PM / 9 months ago

BRIEF-Electrovaya Announces Structured Insolvency Proceedings At Litarion GmbH

Jan 25 (Reuters) - Electrovaya Inc:

* ELECTROVAYA ANNOUNCES STRUCTURED INSOLVENCY PROCEEDINGS AT LITARION GMBH

* ELECTROVAYA INC - CO'S SUBSIDIARY LITARION GMBH HAS COMMENCED A VOLUNTARY STRUCTURED INSOLVENCY PROCESS

* ELECTROVAYA INC SAYS DUE TO THE INSOLVENCY PROCESS COMPANY EXPECTS TO RECORD A NON-CASH CHARGE IN Q2 OF FISCAL 2018

* ELECTROVAYA - INSOLVENCY PROCESS BY UNIT EXPECTED TO RESULT IN APPOINTMENT OF PROVISIONAL RECEIVER/LIQUIDATOR OF LITARION, PROPERTY BY GERMAN COURT

* ELECTROVAYA INC SAYS EXPECTS THAT LEGAL PROCEEDINGS WILL NOT IMPACT COMPANY'S ABILITY TO CONTINUE TO FULFIL CURRENT AND FUTURE CUSTOMER ORDERS

* ELECTROVAYA INC - EXPECTED THE GERMAN COURT WILL SHORTLY ASSIGN PRELIMINARY INSOLVENCY MANAGER TO MANAGE TRANSITION OF LITARION'S OPERATIONS AND WORK Source text for Eikon: Further company coverage:

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