Dutch engineering firm Royal Imtech filed for protection from its creditors yesterday on the back of a giant accounting fraud at its German and Polish subsidiaries.
The company’s operating divisions are now owned by lenders ING Group, Rabobank, Commerzbank and ABN Amro, the court-appointed administrator Jeroen Princen said yesterday.
Dutch trading company Pon Holdings and private equity firm Parcom Capital said yesterday they were looking to acquire Imtech’s international marine operations.