Recording

CreamWare Files for Protection From Creditors

On June 2, 2003, the management of CreamWare Datentechnik GmbH filed an application for protection from creditors with the district council in Bonn, Germany. 6/11/2003 8:00 AM Eastern

On June 2, 2003, the management of CreamWare Datentechnik GmbH filedan application for protection from creditors with the district councilin Bonn, Germany. The court appointed attorney Dirk Obermüller asthe preliminary insolvency administrator.

The application was filed due to a delay in the finalization of theNoah synthesizer product; software for the Noah synthesizer was delayeduntil May, while the Noah hardware was already in full production sinceMarch 2003, thus causing unforeseen financial strain on the company.Meanwhile, the Noah synthesizer is now available and shipping. Thecompany and the preliminary insolvency administrator are currentlyconcentrating on securing supplier agreements and existingrelationships. CreamWare's suppliers and customers will soon becontacted with further information. The company will remain in fulloperation and maintain its full staff of 55 employees.

For more, visit www.creamware.com.