Royal Imtech €2 billion insolvency

Overview:

• Imtech, a building technology firm, was declared insolvent by the Rotterdam court on 13 August 2015.
• Its marine and Nordic divisions have been split from the group and placed under the control of Imtech's financiers with a view to a sale.
• A creditors committee was set up in December 2015 and subsequently approved by the Dutch court.
• The comapny's German division filed in insolvency in July 2015.
• Rabobank acted in the capacity of agent on behalf of the revolving credit facility syndicate, and on behalf of the steering committee consisting of ABN AMRO, ING, Commerzbank and RBS. 

Wai Yee Tsang - Journalist