Applications for self-administration proceedings with respect to sono group n.v. and sono motors gmbh under the german insolvency act

Munich, germany, may 15, 2023 (globe newswire) -- on may 15, 2023, sono group n.v. applied to the insolvency court of munich, germany, to permit the opening of a self-administration proceeding (eigenverwaltung) with respect to sono group n.v. pursuant to section 270 (b) of the german insolvency code (insolvenzordnung). on the same day, sono motors gmbh, sono group n.v.'s sole wholly-owned subsidiary, applied to the same court to permit the opening of self-administration proceeding in the form of a protective shield proceeding (schutzschirmverfahren) with respect to sono motors gmbh pursuant section 270 (d) of the german insolvency code. sono group n.v. conducts its business through its subsidiary sono motors gmbh, and the terms “we” and “our” used herein refer to sono group n.v. together with its subsidiary sono motors gmbh.
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