Published on November 4, 2024 at 08:28.
If PrimeEnergy Cleantech is heading toward bankruptcy and its investors now risk losses, it is because protections did not work. The first of these lines of defense is at the top of the company active in photovoltaics, present in Basel and Geneva. Who granted the large loans to the main shareholder and related entities, which they cannot or will not repay, thus pushing PrimeEnergy towards bankruptcy? These credits of 19.5 million francs for the shareholder and more than 50 million for nearby companies largely exceeded the company’s turnover, by 12 million francs in 2018 and 15 million in 2021.
However, since last January, the chairmanship of the board of directors has been occupied by the general director of the company, according to the Basel-Landschaft Commercial Register. Not ideal for the separation of powers. Before him, the sister of the majority shareholder had assumed the presidency, since the fall of 2019, when she succeeded her brother.
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