Entertainment Is bankruptcy threatened? Werder boss explains the situation

15:35  24 october  2020
15:35  24 october  2020 Source:   sport1.de

Friedl: "I struggled with the criticism"

 Friedl: Werder Bremen has had another senior international player in their ranks since last Wednesday. Marco Friedl made his debut for Austria in a 2-1 win in the friendly against Greece, playing 90 minutes as a left-back. As agreed, he did not travel to the corona risk areas of Northern Ireland and Romania, but returned to the Hanseatic city. In a media round this Wednesday, Marco Friedl spoke about ... © imago images Returned to Bremen as a national player: Marco Friedl. ...

Your bankruptcy will normally end after a year - this is known as 'discharge'. After discharge you won't have to repay the debts covered by the bankruptcy . However you will still have to pay some debts like court fines and loans from the Student Loans Company.

Bankruptcy is a legal proceeding carried out to allow individuals or businesses freedom from their debts, while simultaneously providing creditors an Bankruptcy can allow you a fresh start, but it will stay on your credit reports for a number of years and make it difficult to borrow in the future.

Werder Bremen has experienced many setbacks in recent months. Now there is concern about the stadium, managing director Klaus Filbry reassures the fans.

Droht die Insolvenz? Werder-Boss erklärt die Lage © Provided by sport1.de Is bankruptcy threatened? Werder boss explains the situation

Werder Bremen fans have had to go through a lot in the last few months.

Also on Saturday there was worrying news that Bremer Weserstadion GmbH (BWS) is threatened with insolvency. But more on that later, the positive news first.

Bremen's managing director Klaus Filbry assured the Weser-Kurier that the Bundesliga club itself is not threatened with bankruptcy - not even if there is another forced Corona break. "It is a great economic challenge, but there is no risk of bankruptcy," said the 53-year-old.

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 Werder sports director takes striker Rashica under protection Werder Bremen sports director Frank Baumann has taken striker Milot Rashica under protection after his failed move to Bayer Leverkusen against the accusation of listlessness. © Tom Weller / dpa Bremen's Milot Rashica (l) in the game against SC Freiburg. “If you want to see something there, you can interpret it. I don't see it that way at all. There are reasons why it didn't come into play. This definitely has nothing to do with listlessness.

Filing for bankruptcy is often viewed as an easy way to get out of debt, but it should only be used Consequences of Declaring Bankruptcy . In certain situations the BAPCPA requires those filing for In a society where living beyond your means is all too prevalent, a brush with bankruptcy can be a

Attorney David L. Ruben explains the most common bankruptcy situation - Chapter 7. David explains what makes an individual eligible for Chapter 7 Bankruptcy

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The club has applied for a loan from KfW Bankengruppe. "Our inquiry has been with KfW for a long time and has not been processed for a long time and is being carefully examined," said Filbry. "We are in dialogue with KfW. In the event that we do not manage to find the solution, we have worked out alternatives that will almost certainly occur."

With "Option B" you are well protected, "the season is financed."

And back to the Weser Stadium: As a Senate spokesman for dpa confirmed, the Stadion GmbH is facing serious financial problems due to the lack of audience income. The Weser-Kurier had previously reported that without financial support, BWS would be "insolvent at the end of the year and over-indebted at the end of the financial year".

Half of the company is owned by the Bundesliga club and the other half by the Bremen City Economic Development Corporation. In order to avert the insolvency, according to the report, both sides must each contribute 3.5 million euros.

No approval: Werder postpones general meeting .
Bundesliga soccer club Werder Bremen has moved its general meeting to spring 2021 due to the corona pandemic. The club announced this on Friday evening. Werder had previously applied for a special permit for a face-to-face event. However, the health department refused. © Sina Schuldt / dpa Hubertus Hess-Grunewald, managing director of Werder Bremen, speaks.

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