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General

Wirecard to continue operations after filing for insolvency

Monday 29 June 2020 | 10:46 CET | News
Wirecard, the German payments company, will continue its operations after filing for insolvency in a court in Munich, MarketWatch reported. The company filed for insolvency after admitting that EUR 1.9 billion cash, supposedly held in a bank accounts in the Philippines, was missing from the balance sheet. Wirecard Bank, which holds the licences to process payments, is not part of the insolvency proceedings, the company said.

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Categories: General
Companies: Wirecard
Countries: Germany / World
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