A judge will decide the fate of the heavily indebted Adler Group starting Monday. The Handelsblatt provides answers to the most important questions.

Dusseldorf, Berlin The crisis at Adler Group SA reaches a climax this week. After several days of hearings, the London High Court will decide whether Adler can take on 940 million euros in new debt and be given more freedom to repay bonds worth 2.7 billion euros. There is only one relevant alternative, said a judge in advance: “This alternative is bankruptcy.”

A year and a half ago, a short seller with allegations of fraud and manipulation triggered the crisis at Adler. Adler denied the allegations, but has staggered from one low blow to the next since then. An investigation did not lead to full discharge, auditors refused the attestation for 2021 and resigned their mandate. Adler’s search for new examiners failed.