Rotterdam court rejects global technical support company's application for protection from bankruptcy following the collapse of refinancing talks on Tuesday and yesterday's suspension on Euronext.
A court in Rotterdam has rejected a request from Royal Imtech NV for bankruptcy protection following the collapse of refinancing talks with banks on Tuesday.
Rumours of financial difficulty at the technical support services firm which employs more than 22,000 people globally, have been circulating in recent weeks.
Imtech shares were suspended on the Euronext Exchange yesterday after a dramatic fall in value and intervention by The Netherlands Authority for the Financial Markets (AFM).
According to a company statement, agreement had already been reached over the disposal of the group's marine division to Pon Holdings and Parcom Capital.
An administrator is expected to confirm sale of the group's Nordic businesses to an unnamed partly shortly.
