German metal label SPV GmbH has submitted on May 25 an application to commence the German equivalent of Chapter 11 bankruptcy protection. SPV Schallplatten Produktion und Vertrieb GmbH in Hanover, Germany has declared itself insolvent, but managing partner Manfred Schütz maintains that "Normal business will continue even after the application for insolvency."
According to Schütz, together with attorney Manuel Sack, the management of SPV GmbH will not only carry on business operations, but also continue working in the areas of production and distribution in the usual way.
Source:
http://www.lambgoat.com/news/view.aspx?id=12791
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