"Within the next few days, the Company expects that the Subsidiaries will file for insolvency in the competent court in Germany and apply for self-administration proceeding pursuant to Section 270(a) of the German Insolvency Code."
"Lilium has not been able to raise sufficient funds to continue the operations of its main subsidiaries, Lilium GmbH and Lilium eAircraft GmbH... they are overindebted and won't be able to pay their existing liabilities due in the coming few days."
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