German battery maker Varta has shifted to regular insolvency proceedings for its parent company and a key subsidiary, abandoning an earlier self-administration approach as the Stuttgart district court appointed lawyer Tobias Wahl as insolvency administrator.
The move follows Wahl's prior appointment as temporary supervisor when Varta initially filed for protection after majority shareholders including Porsche AG and Michael Tojner declined to inject further capital. The proceedings cover Varta AG and operating units Varta Microbattery GmbH, Varta Micro Production GmbH, and Varta Storage GmbH, though the profitable Varta Consumer Batteries division remains legally separate from the process.
The filing was prompted by a structural funding gap expected to emerge from 2027, according to the company. Creditors including Deutsche Bank, RBC BlueBay, Blantyre and Whitebox have signaled plans to spin off the household battery business.