Last week, KTM South Africa announced the new four year warranty on selected motorcycles and today, the the courts approved their restructuring plans.
2025.02.25
Following a vote at the regional court in Upper Austria earlier today, KTM’s creditors have approved the company’s restructuring plan .
The court was presented with all the claims.
The restructuring plan provides for a cash quote of 30%, to be paid by the end of May.
Capital is required to increase production at the Mattighofen plant from March.
The hearing began at 9am with 3847 claims filed by creditors. The jury room was full with approx 100 people present.
Shortly before 2pm, it was confirmed that the creditors had approved the restructuring plan.
That’s a lot quicker than things take in good ol RS Of A!
“This plan provides for creditors to receive a cash quota of 30% of their claims in the form of a one-off payment (cash quota),” reads the statement from Pierer Mobility AG.
“In order to fulfil the quota of 30%, KTM AG must deposit an amount with the restructuring administrator by 23 May 2025 at the latest.”
“The court will then confirm the restructuring plan at the beginning of June 2025 and the restructuring proceedings of KTM AG will end once it becomes legally binding.”
The financial settlement means that plans for increased production in mid-March are going to happen. “The planned full capacity of the four production lines in single-shift operation is to be achieved within three months,” according to Pierer Mobility AG.
According to AKV, the name of the financing investor remains unknown.
Extended shareholders are reported to have loaned the group funds to get things firing up.
Always Ready To Race! Things are looking up for one of the worlds favourite brands!
