CargoLifter AG - Blimp Vignette - In Bankruptcy

CargoLifter AG - Blimp Vignette - In Bankruptcy

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CargoLifter AG - Blimp Vignette - In Bankruptcy
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Beautifully engraved certificate from the Zwischenschein Nr. der CargoLifter AG . This historic document has a vignette of the CargoLifter company logo. This item is hand signed by the Company's officer.
Certificate Vignette CargoLifter AG based to the South of Berlin in Germany is developing "Lighter-than-Air" systems for logistics and other applications. The Company's first product, the CL 75 AC balloon based system has been in prototype flight test since October 2001. It will be capable of carrying an 86 short ton payload in either a crane configuration or as a towed vehicle. CargoLifter's flagship product, the CL160 airship, with a capability to carry outsized and heavy goods over long distances, is a key goal of the Company. CargoLifter is already in cooperation with a number of partners and potential users to further define and develop both markets and products. Listed on the Frankfurt Stock Exchange (WKN: 540 261, symbol CLA), CargoLifter AG has developed a unique capability to research, design, develop and produce airships and other "Lighter-than-Air" vehicles. Application for the Opening of Insolvency Proceedings for CargoLifter AG (07/06/2002) Berlin/Brand - For reasons of insolvency the CargoLifter AG Board of Managing Directors today filed an application for the opening of insolvency proceedings on the assets of CargoLifter AG at the Cottbus District Court. With this step the management bodies are fulfilling their legal duties in line with § 92 of the German Company Act ("Aktiengesetz"). At the same time the scope of the new insolvency legislation is to be used to order and streamline the group structure together with a reputable and experienced insolvency administrator. A solution for preserving the company is to be developed and implemented with a focus on the Brand location in the State of Brandenburg. With the closure of the office in the USA which has already taken place and the move of the entire Berliner office to the hangar site Brand, the first steps have already been initiated. The objective of the insolvency petition is the reorganisation of the insolvent legal entity . The key focus is the interests of the some 72,000 shareholders who have supported the project in such a marvellous manner. Prof. Rolf-Dieter Moenning has been appointed by the court as the interim administrator of CargoLifter AG. In the now following phase of the insolvency procedure, the group now gets a breathing space. This is to be used for an assessment of the current situation in terms of technology and methodology within the framework of so-called technical due diligence. From the information derived in this procedure, further steps for the rapid launch of the transportation balloon CL 75 AC and the further development of the "flag ship" of the company, the transportation airship CL 160, are to be shown. The question of strengthening and developing Germany's leading position in this technology sector is also important, something which has been achieved not least by the development work at the CargoLifter Group.


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