Swets Information Services B.V. declared bankrupt

in Digital — September 24, 2014

Following the suspension of payment for Swets & Zeitlinger Group BV,
granted by the court in Amsterdam on 19 September, the Management
team, together with Mr J.L.M. Groenewegen (CMS), the appointed
administrator, have been working tirelessly to investigate
alternatives for the business. Unfortunately, concrete alternatives to
sell the business as a whole have not materialised and due to these
developments Swets Information Services B.V. filed for bankruptcy on
23 September 2014. The court of Amsterdam honoured this request and as
per 23 September 2014 Swets Information Services B.V. is declared
bankrupt.

Mr. J.L.M. Groenewegen has now been appointed as trustee and the court
of Amsterdam has also granted a cooling off period (afkoelingsperiode)
for a duration of two months. Swets Information Services B.V. has
approximately 110 employees in the Netherlands. As a consequence of
the bankruptcy the employment contracts with these employees will be
terminated.

The bankruptcy of the Swets Information Services B.V. does (for now)
not affect its (foreign) subsidiaries as the bankruptcy is only
related to Swets Information Services B.V. If and in which way the
bankruptcy of Swets Information Services B.V. will affect its branches
is currently under investigation by the trustee at this moment.

In the coming days the trustee and the Management team will continue
discussions with organisations and individuals who may be interested
in purchasing parts of the business and will be making every effort to
try to preserve employment, where possible. Alternative solutions for
the subsidiaries, or branches, of Swets Information Services B.V.
which could see them continue activities on a stand alone basis will
also be investigated.

During these negotiations we kindly ask any suppliers, publishers and
clients with urgent queries to contact CMS directly by e-mail, from
Friday afternoon onwards, at the following address: [log in to unmask]

http://www.stm-publishing.com/swets-information-services-b-v-declared-bankrupt/

Jan

-- 
Jan Szczepański
F.d Förste bibliotekarie och chef för f.d Avdelningen för humaniora,
vid f.d. Centralbiblioteket, Göteborgs universitetsbibliotek
E-post: [log in to unmask]