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Faller emerges from insolvency

Published: May 12, 2010
Model railroad structure and accessory manufacturer Gebr. Faller GmBH announced recently insolvency proceedings have been concluded and the company is out of receivership.

According to managing director Horst Niedhard, Faller was released from its 7-month insolvency April 23 by a German court. He says the response to the company’s products at toy fair in Nuremberg and other shows give reason for optimism.

The company’s reorganization plan, approved in January, included payment to creditors within 30 days, the company taking over the pensions of its current employees and the firm making payment to the pension insurance association. Another condition was investment of a minimum of 500,000 euros ($725,000) in the firm by ownership.

Faller is headquartered in Gutenbach, Germany. Its products are distributed in the U.S. by Wm. K Walthers Inc.