Wirecard collapses and files for insolvency facing an almost complete wipeout; source says creditors are owed nearly $4B
Douglas Busvine, Jörn Poltz, Arno Schuetze — BERLIN/MUNICH/FRANKFURT (Reuters) - German payments company Wirecard collapsed on Thursday after disclosing …
Reuters Douglas Busvine
Related Coverage
- Wirecard AG: Application for opening of insolvency proceedings Wirecard · Iris Stöckl
- Wirecard files for insolvency after $2 billion went missing Decrypt · Tim Copeland
- Wirecard Files for Insolvency After Revealing Accounting Hole Wall Street Journal · Patricia Kowsmann
- Wirecard: Scandal-hit firm files for insolvency BBC
- Wirecard, the disgraced German payments firm backed by Softbank, files for insolvency over €1.3B … TechCrunch · Ingrid Lunden
- RIP Wirecard, down 97% since revealing its $2.1 billion black hole The Next Web · David Canellis
- Germany Wonders How Wirecard Could Misplace $2 Billion Bloomberg
- Troubled Debit Card Issuer Wirecard Files for Insolvency Cointelegraph · Andrey Shevchenko
- Wirecard: the rise and fall of a German tech icon | Free to read Financial Times · Dan McCrum
- Wirecard files for insolvency due to accounting scandal, arrest of ex-CEO ZDNet · Charlie Osborne
- Wirecard collapses into insolvency Financial Times
- Wirecard has filed for insolvency after a devastating scandal that saw $2 billion go missing and its ex-CEO get arrested Business Insider · Shalini Nagarajan
- Wirecard collapses owing €3.5 billion The Irish Times · Derek Scally Berlin
- Ex-Wirecard CEO Markus Braun released on $5.6 million bail New York Post · Noah Manskar
- Wirecard (ETR: WDI) to File for Bankruptcy as the Payment-Focused Startup's Fall From Grace Nears Consummation Wccftech · Rohail Saleem
- Wirecard Files For Insolvency, Seeks Court Protection PYMNTS.com
- Wirecard files for insolvency after $2 billion goes missing The Block · Yogita Khatri
Discussion
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@bondhack
Robert Smith
on x
“The management board of Wirecard AG has decided today to file an application for the opening of insolvency proceedings for Wirecard AG with the competent district court of Munich (Amtsgericht München) due to impending insolvency and over-indebtedness.” https://ir.wirecard.com/..…
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@arashmassoudi
Arash Massoudi
on x
If you've had trouble following all the pieces of the Wirecard downfall... @FD has you covered with this detailed timeline/explainer. Wirecard: the rise and fall of a German tech icon https://www.ft.com/...
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@sebcochard_11
Sebastien Cochard
on x
If we are to believe this timeline from the FT (which was itself involved into the events), the German supervisor Bafin, for years, systematically attacked whistleblowers raising the alarm on Wirecard under the pretense that they were manipulating market https://www.ft.com/...
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@peter_tl
Peter Thal Larsen
on x
What happens when a payments company goes bust? We're about to find out. Wirecard is filing for insolvency. https://ir.wirecard.com/...
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@reutersbiz
@reutersbiz
on x
Wirecard is filing for insolvency after disclosing a $2.1 billion financial hole in its accounts, becoming the first sitting member of Germany's blue-chip share index to go out of business. More here: https://www.reuters.com/... https://twitter.com/...