Media release
In a press release issued today, Valartis Group AG in Baar, Switzerland, communicated that on 28 October 2015, the Court of Justice in Liechtenstein granted Valartis Finance Holding AG, Vaduz, a stay of insolvency proceedings for four months. At the same time, a deputy was appointed for Valartis Finance Holding AG. Valartis Finance Holding AG is subject to consolidated supervision by the FMA Liechtenstein.
Valartis Finance Holding AG is the majority shareholder of Valartis Bank (Liechtenstein) AG, Gamprin-Bendern. The FMA Liechtenstein states that Valartis Bank (Liechtenstein) AG and Valartis Fund Management AG, a subsidiary of Valartis Bank, at present meet all licensing conditions and are continuing their normal business operations. As communicated by Valartis Group AG, the goal of implementing the recovery plan is accompanied by the decision to sell Valartis Bank (Liechtenstein) AG.