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eVTOL start-up Volocopter GmbH has filed for the opening of insolvency proceedings. The filing was made at the Karlsruhe Local Court on 26 December 2024.
The court appointed Tobias Wahl, partner, and attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator.
Founded in 2011, the start-up company has said that it is ‘near’ to gaining obtain aircraft type certification for its electric ‘copter, the VoloCity.
The company aims to enter the market in 2025 following VoloCity’s successful certification by the European Union Aviation Safety Agency (EASA).
Dirk Hoke, CEO of Volocopter, said: “We are ahead of our industry peers in our technological, flight test, and certification progress. That makes us an attractive…
In a significant blow to the future of eVTOL aircraft in Europe, German eVTOL company Volocopter filed for bankruptcy protection this week.
Specifically, Volocopter GmbH filed an application to open insolvency proceedings at the Karlsruhe Local Court on 26 December 2024.
The Karlsruhe Local Court began the provisional insolvency administration the following day and appointed Tobias Wahl, partner and attorney at Anchor Rechtsanwältegesellschaft mbH, as its administrator.
Insolvency is a financial state where an individual or business cannot meet their debt obligations when they become due, and a filing allows a company to potentially resolve these through various means, such as debt restructuring or improved…
Volocopter announced in a short press release that it had filed an application for the opening of insolvency proceedings with the Karlsruhe Local Court on 26 December 2024. It was approved the following day, and Tobias Wahl was appointed insolvency administrator. Business operations will continue during the proceedings and, according to Volocopter, the aim is to “develop a restructuring concept by the end of February and implement it with investors.” The insolvency administrator has already initiated a so-called investor process: “The company needs financing to take the final steps towards market entry,” says Tobias Wahl.
Volocopter was founded in Bruchsal in 2011 and develops all-electric vertical take-off and landing (eVTOL)…
UAM developer Volocopter has filed an application for the opening of insolvency proceedings at Germany’s Karlsruhe Local Court
The court has begun the provisional insolvency administration, appointing Tobias Wahl, partner and attorney at Anchor Rechtsanwältegesellschaft, as its administrator.
Volocopter is a pioneer of urban air mobility (UAM), developing electric vertical take-off and landing (eVTOL) aircraft and a digital backbone that connects aircraft, infrastructure, and operators, the VoloIQ. Founded in 2011, the start-up company is nearing the finish line to obtain aircraft type certification and launch its urban eVTOL, the VoloCity.
Numerous successful financing rounds have driven the…
Assistant Inspector General for Investigations Jason Williams said one way they are trying to reach people is through their “Eye on Ed” podcast.
“We launched the podcast in 2019, and so since then we’ve had a number of different episodes covering everything from student loan scams to some of the really important audit work that we’ve done in the education space,” Williams said.
One recent episode addressed a growing problem nationwide: the rise of student aid fraud rings.
Student fraud rings occur when organized groups of criminals exploit distance learning programs to fraudulently…
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Volocopter has filed an application for insolvency proceedings at the Karlsruhe Local Court in Baden-Württemberg, Germany.
The application, which was opened on 26 December 2024 and began the following day, will see Anchor Rechtsanwältegesellschaft mbH partner and attorney, Tobias Wahl, as administrator during the process.
Volocopter’s 2X unit takes flight at Gimpo Airport, during MOLIT K-UAM Event, Republic of Korea
We are ahead of our industry peers in our technological, flight test, and certification progress. That makes us an attractive company to invest in while we organize ourselves with internal restructuring.
Volocopter states that the decision to apply for insolvency was made…
