Creditshelf AG Announces Business Operations Sale to Teylor AG

On April 23, 2024, Creditshelf Aktiengesellschaft, a Frankfurt-based digital corporate financier, disclosed the sale of its business operations to Teylor AG of Switzerland. This transaction is a part of the protective shield proceedings according to § 270d of the German Insolvency Code. Creditshelf's assets and business operations were sold under a conditional purchase agreement, which is expected to significantly address creditor claims, although specific amounts are yet pending determination.

The completion of this transaction remains crucial for Creditshelf, impacting the deadline for their annual financial report which is due on April 30, 2024. The company highlights potential delays in publication due to the ongoing challenges of insolvency proceedings and the new adjustments required post-asset sale.