JoWood Insolvency Update

JoWood filed for insolvency 3 months ago, and 1 month ago had to indefinitely delay Fall of Setarrif, due to “legal disputes”. The blows keep landing for the publisher, as RPGWatch now reports the insolvency process hasn’t been going well, and the company looks to be facing liquidation “shortly”.

Several sources report that JoWooD’s insolvency process is moving forward, unfortunately not in the desired direction.

• Negotiations with possible investors, and with them the intended restructuring plan, have failed.
• JoWooD pulls back the application to pursue a restructuring plan.
• Thereby the insolvency with a planned restructuring becomes an insolvency without a positive continuation prognosis.
• This means the liquidation proceedings will start shortly.
• The daughter company JoWooD Distribution Services GmbH files for insolvency on April 21st 2011.
• Trading of the JoWooD shares at the Vienna Stock Exchange has been suspended.