ITL opens insolvency proceedings

Klarsen has announced the opening of insolvency proceedings for its subsidiary ITL. The decision was made by the Strasbourg Judicial Court. This measure concerns only ITL, allowing the entity to continue its operations while preparing for its restructuring. Klarsen itself is not affected by these proceedings and is continuing its restructuring plan initiated in 2020.

Klarsen's main shareholder has pledged its support by committing to a comprehensive financial package. The company has also appealed a recent ruling, and several hearings will soon be scheduled to try to overturn the provisional enforcement order.

Klarsen notes that the outcome of the proceedings remains uncertain and could affect the continuity of its operations in the short term depending on the development of legal decisions.