Management has been aware of financial problems since February

Dusseldorf Fakt AG’s financial difficulties have been known to the management of the real estate company since the spring. At a special meeting on February 25, the Supervisory Board discussed the financial situation. This was more than tense at this point, as can be seen from the minutes of the meeting. The document is available to the Handelsblatt.

There it goes on: “The problem of the company is the current liquidity situation.” A spokesman did not want to comment on it.

The situation should continue to deteriorate: Last Thursday, the company founded by ex-banker Hubert Schulte-Kemper had to file for bankruptcy.

The fact that the head of the supervisory board, Ernst Gerlach, invited the other six members of the committee to the meeting at short notice shows that the situation is threatening. The meeting starts at 11.01 a.m. in the Ruhrturm, an aging high-rise building that used to be the home of Ruhrgas and which today serves as the headquarters of Fakt AG.