Reuters: Bankruptcy News: Loewe protection from creditor will speed up investor search-CEO

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Loewe protection from creditor will speed up investor search-CEO Jul 16th 2013, 12:41 MUNICH, July 16 | Tue Jul 16, 2013 8:41am EDT MUNICH, July 16 (Reuters) - German high-end television maker Loewe AG's move to file for protection from creditors' demands will speed up its search for an investor, its chief executive said. "Now we have three months' time to finish restructuring and make enough progress on the matter of finding an investor that the court and creditors agree to a plan," Matthias Harsch told Reuters on Tuesday. Loss-making Loewe, which is 28 percent-owned by Japan's Sharp, on Tuesday filed for protection from creditors at a German court, under a law that gives firms up to three months of breathing room to try to fix their finances to stave off insolvency. (Reporting by Joern Poltz; Writing by Maria Sheahan)

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