Heineken drives imposter to bankruptcy
Dutch beer company Olm has been declared bankrupt. The firm has been involved in litigation with beer giant Heineken, which accused it of fraudulent practices.
“There was no way we could win” commented director Marc Schneider, confirming the reports of bankruptcy. He added that he was confident that the liquidation sale would at least pay Ulm’s outstanding debts.
Last month the court ruled that Olm was guilty of brand violation by distributing its cheap beer in refilled Heineken barrels. Previous accusations of copying the Heineken label on its bottles had been settled out of court.
Heineken is also suing for compensation and has had Olm’s assets sequestered. According to Schneider, this forced him to file for bankruptcy.
© Radio Netherlands Worldwide