Monday 12. November 2012
Krones reaches settlements in US proceedings
The US company of the Krones Group, Krones Inc. in Franklin/Wisconsin (USA), and Krones AG, Neutraubling (Germany), have now settled the legal disputes that have been ongoing in the US since October 2008. Only one claim for legal fees remains pending. The proceedings concerned relate to claims for damages asserted by several American financial service providers, a group of hedge funds and a liquidator, and most recently investigations by the district attorney in Pennsylvania. The settlement agreed with the liquidator is still subject to formal approval by the insolvency court. The proceedings related to the financial scandal involving the bankruptcy of the US company Le-Nature’s.