Originally Posted by
irishguy28
It would appear that it is a consequence of filing for administration.
They seek "protection" from their creditors. They don't want ticketholders suddenly becoming "creditors" by demanding their money back!
Exactly.
German insolvency law distinguishes "old debt" from before the filing date from "new debt". New debt has a higher status und thus the management would violate insolvency law and be personally liable if they pay out funds to creditors with "old debt" before the final liquidation of the company and its assets with a quota part payment And tickets issued before filing date Aug. 11 are definitely old debt. Besides from that the acceptance of such tix for transport is also a violation but it probably was the first decission of the official insolvency procurator to honour old tix for transportation as otherwise the company would shut down immediantely without any potential for continuation and therefore chance of upholding value of assets.