CreamWare Files for Protection From Creditors

Jun 11, 2003 12:00 PM, Editors


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On June 2, 2003, the management of CreamWare Datentechnik GmbH filed an application for protection from creditors with the district council in Bonn, Germany. The court appointed attorney Dirk Obermüller as the preliminary insolvency administrator.

The application was filed due to a delay in the finalization of the Noah synthesizer product; software for the Noah synthesizer was delayed until May, while the Noah hardware was already in full production since March 2003, thus causing unforeseen financial strain on the company. Meanwhile, the Noah synthesizer is now available and shipping. The company and the preliminary insolvency administrator are currently concentrating on securing supplier agreements and existing relationships. CreamWare's suppliers and customers will soon be contacted with further information. The company will remain in full operation and maintain its full staff of 55 employees.

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