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SBD Global/January 23, 2014/Finance

German Fourth-Tier Football Club Alemannia Aachen Saved Financially

German fourth-tier football club Alemannia Aachen "has been saved financially after its creditors agreed to its bankruptcy plan," according to the DPA. The club and its administrator said that the court "could lift the insolvency proceedings very shortly." The creditors have agreed to forgo a majority of the €69M ($93.5M) in liabilities. The bankruptcy plan calls for payments between 1-25% of the creditors' claims (DPA, 1/21).
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