SUSPENSION OF CERTITUDO RESIDENTIAL GROWTH FUND B.V. CONVERTED INTO BANKRUPTCY

Tuesday 19 September 2023

‘s-Hertogenbosch, 19 September 2023 I On 18 September, the District Court of Oost-Brabant declared Certitudo Residential Growth Fund B.V. (CRGF) in bankruptcy – simultaneously revoking the moratorium granted on 22nd August. The court has appointed both administrators, Mr. W.J.G. Smits (Watson Law) and Mr. I.C.J.C. van de Klundert (Taylor Wessing), as trustees.

Explanation

The administrators were forced to conclude during the moratorium period that obtaining (re)financing in a timely manner proved impossible and therefore decided to revoke the moratorium.

The revocation of CRGF’s moratorium has also led to the application for bankruptcy for Certitudo Capital Group B.V. This allows further joint consideration of follow-up steps with regard to possible continuation or sale of its real estate projects.

Communication

Eventual additional questions we kindly ask you to put in writing to the receivers.

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