Biofrontera AG plans mediation to resolve (legal) disputes

Rhea-AI Summary

Biofrontera AG (NASDAQ: BFRA) has reached a mediation agreement with Mr. Wilhelm K.T. Zours and Deutsche Balaton AG regarding ongoing disputes. The mediation process aims to resolve various legal disputes affecting the company in Germany and the USA. Mr. Zours, a major stakeholder, will be involved in finding strategic solutions through a renowned mediator. The agreement's completion is anticipated today, potentially impacting shareholder relations and corporate governance.

Positive

• Mediation agreement reached, potentially reducing ongoing legal disputes.
• Involvement of a renowned mediator may lead to strategic resolutions.

Negative

• Ongoing legal disputes in Germany and the USA may continue to pose risks.
• Disagreements on personnel and strategic corporate matters still unresolved.

Leverkusen, Germany, Sept. 11, 2020 (GLOBE NEWSWIRE) -- Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company” or the “Biofrontera-Group”), an international biopharmaceutical company, today has reached a mutual agreement with Mr. Wilhelm K.T. Zours and Deutsche Balaton AG on the key elements of a mediation agreement. The completion of the mediation agreement is expected today.

Within the framework of the mediation process, which is to commence shortly, an experienced and renowned mediator will be called in to find solutions for the settlement of disputes as well as disagreements on personnel and strategic corporate matters.

Mr. Zours is chairman of the supervisory board and majority shareholder of Deutsche Balaton AG and is as such an indirect major shareholder of the Company. Between the Company on one side and Deutsche Balaton AG together with other companies in which Mr. Zours holds a majority interest on the other side, various legal disputes are pending in Germany and one legal dispute in the USA.

Biofrontera AG, Hemmelrather Weg 201, 51377 Leverkusen

ISIN: DE0006046113
WKN: 604611

Biofrontera AG
Tel.: +49 (0214) 87 63 2 0, Fax.: +49 (0214) 87 63 290
E-mail: ir@biofrontera.com

FAQ

What is the recent mediation agreement involving Biofrontera AG (BFRA)?

Biofrontera AG has reached a mediation agreement with Mr. Wilhelm K.T. Zours and Deutsche Balaton AG to resolve ongoing legal disputes.

Who is Mr. Wilhelm K.T. Zours in relation to Biofrontera AG?

Mr. Zours is the chairman of the supervisory board and majority shareholder of Deutsche Balaton AG, an indirect major shareholder of Biofrontera AG.

What are the potential implications of the mediation agreement for Biofrontera AG's shareholders?

The mediation agreement may reduce legal risks and improve corporate governance, positively impacting shareholder relations.

When did Biofrontera AG announce the mediation agreement?

The mediation agreement was announced on September 11, 2020.

What disputes are involved in the mediation process for Biofrontera AG?

The mediation process involves various legal disputes pending in Germany and one in the USA.