A scheduled meeting in the Bankruptcy Court in Kolding on June 25, 2025 regarding the reconstruction of Green Hydrogen Systems will not be held as a meeting to vote on a reconstruction proposal for the company. The reason is that the ongoing sales negotiations have not led to the desired result. This is what reconstructor Henrik Sjørslev writes in the creditor information.
Green Hydrogen Systems initiated a formal reconstruction in March 2025 after the company had tried to carry out a major restructuring without success. Since the fall of 2024, the company has struggled with insufficient liquidity and lack of capital, which has led to a significant reduction in the workforce and a goal of reducing costs by up to 50 percent.
Five days before the next bankruptcy court meeting, the company was supposed to have presented a reconstruction plan, but this has not been successful, even though negotiations have taken place up until today at "particularly high intensity".
"Since the start of the reconstruction, very intense negotiations have been ongoing on several sides regarding the sale of all or parts of the company in Green Hydrogen Systems A/S with a view to the fact that a reconstruction proposal could be submitted on this basis," writes Henrik Sjørslev. It continues:
"Unfortunately, it must be announced that the negotiations have unfortunately not developed as desired, and a result has not been achieved that allows a reconstruction proposal to be prepared and issued at this time.
The company's management is now working together with the reconstructor and the accounting-savvy shop steward to evaluate the situation and assess the future options."
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