Insolvency proceedings have been officially initiated in the local court of Aachen, Germany against Photon Europe GmbH, publisher of leading PV publications such as Photon International.

Case number: 92 IN 243/12 was filed yesterday afternoon. A preliminary insolvency lawyer André Seckler has been appointed by the Aachen District Court to oversee the insolvency proceedings.

Annegret Kreutzmann, Managing Director of Photon Europe was cited in the court papers as legally representing the publisher in the insolvency proceedings.

Speculation had recently surfaced that insolvency proceedings were imminent. However, no official statement from the publisher was issued, denying or confirming the rumours.

Details were not provided on the type of insolvency being imposed on the company and whether it could continue operating.