BRIEF-Asian Bamboo says received petitions for insolvency from DEG, PROPARCO

March 16 Mon Mar 16, 2015 2:05pm EDT

* Asian Bamboo says has received petitions for insolvency proceedings from DEG and PROPARCO

* Says DEG and PROPARCO filed petitions for insolvency proceedings in respect of Asian Bamboo with Hamburg court

* Asian Bamboo says petitions relate to termination of loan agreements with DEG and PROPARCO and claims for repayment of $16,407,816.34 and EUR 13,951,043.33

* Asian Bamboo says has instructed its legal advisers to examine all legal aspects of this issue

* Says has sufficient funds and credit-facilities to repay outstanding receivables including amount claimed by DEG and PROPARCO Source text for Eikon: Further company coverage: (Frankfurt Newsroom)

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