Former kitchen manufacturer
Trial against former board members stopped after Alno bankruptcy
The former kitchen manufacturer Alno went bankrupt in 2017. Two former board members had to go to court because of this. The proceedings against the payment of fines have now been discontinued.
The proceedings against two former board members of the insolvent kitchen manufacturer Alno at the Stuttgart regional court have been discontinued. The court said the two defendants had agreed to pay a fine. The former CEO pays 40,000 euros and the former CFO pays 17,500 euros. After payment has been made, the currently temporarily discontinued procedure will be permanently discontinued, the statement said.
The two board members were accused of delaying bankruptcy, loan fraud and breach of trust. A third defendant had to answer on suspicion of aiding and abetting breach of trust.
Defendants are therefore not considered to have a criminal record
The court announced that the proceedings against the third defendant were finally discontinued in July upon payment of a fine of 10,000 euros. The defendants are therefore not considered to have a criminal record.
At the beginning of the year, the then 78-year-old defendant resolutely rejected the allegations in his statement lasting several hours before the 16th Commercial Criminal Chamber. He is firmly convinced that he has never violated applicable law as CEO of Alno AG. He himself never enriched himself from Alno. On the contrary: he lost most of his assets as a result of the bankruptcy.
There was never any sustained insolvency
At the time, the defendant described the accusation of delaying bankruptcy as “completely inaccurate and unfounded.” There was never any sustained insolvency, which is why there was no obligation to file for insolvency. Due to strong seasonal fluctuations in the business model, Alno AG repeatedly experienced temporary liquidity bottlenecks. However, these were bridged through appropriate measures.
The company went bankrupt in the summer of 2017
The former traditional company based in Pfullendorf, Swabia, and its subsidiaries filed for bankruptcy in the summer of 2017. However, based on their investigations, the public prosecutor’s office assumed that the company had been insolvent earlier – namely by the end of 2013 at the latest.
An investor subsequently took over significant parts of Alno as part of the insolvency proceedings. Kitchen production continued for a while. But this company also eventually went bankrupt.
dpa
Source: Stern
