Press Releases

As part of the process to find an investor for Wochenblatt Verlag Ravensburg GmbH & Co. KG, Mr Michael Wahl from PLUTA Rechtsanwalts GmbH has now held initial talks with prospective buyers. The attorney has been appointed as the provisional insolvency administrator for the company by the Local Court of Ravensburg at the beginning of December.

• Company will start into the year 2018 with a clear record
• Customers may expect enhanced range of services
• PLUTA attorney Mr Conrads acting as insolvency monitor

The insolvency plan prepared for matratzen direct AG, which was approved by the creditors on 29 November 2017 and confirmed on that same day by the Local Court of Cologne, has now become final. The company is thus in a position to start into a successful future. On 17 February 2017, the company had filed for so-called “protective shield” proceedings with the objective of undergoing restructuring as a debtor in possession.

• Company name “JT Touristik” to be preserved
• All jobs saved

The provisional insolvency administrator Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH managed to sell the Berlin-based tour operator JT Touristik to Lidl E-Commerce International GmbH & Co. KG. The transaction is subject to approval by the responsible anti-trust authorities and is expected to be completed early in 2018. At that point in time, the buyer will take over the business activities and will ensure continued operation of the company without any restrictions. The company brand “JT Touristik” will be preserved.

By an order of 4 December 2017, the Local Court of Ravensburg appointed the restructuring expert Mr Michael Wahl from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator for Wochenblatt Verlag Ravensburg GmbH & Co. KG.

Mr Ilkin Bananyarli, the provisional insolvency administrator of GEWA 5 to 1 GmbH & Co. KG, has had intensive talks with experts in the past few days. The talks were about the list which has been the subject of public discussion since last Friday and was incorrectly referred to as a list of defects.

• The new owner BURGER GROUP is an organisation from the same region
• More than 80 jobs saved

The insolvency administrator, Mr Florian Schiller from PLUTA Rechtsanwalts GmbH, has successfully concluded the process of finding an investor for Hock GmbH in Schönwald. The new owner is the BURGER GROUP based in Schonach in the Black Forest. The business will be transferred to the new proprietor at the beginning of the new year. This means that more than 80 jobs have been saved.

On 6 November 2017, the Local Court of Leipzig confirmed the insolvency plan submitted during the debtor-in-possession proceedings for the die casting company Sächsische Druckguß GmbH. The creditors had already approved the insolvency plan unanimously. It is planned to close the proceedings in the near future. Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH oversaw the proceedings in his role as insolvency monitor. The company was advised by the business law firm Buchalik Brömmekamp.

• Surprising withdrawal by the investor despite negotiations being at an advanced stage
• Provisional insolvency administrator is working on an alternative solution

The investor, who intended to acquire Gewa Tower, surprisingly withdrew his offer this week. This was announced by Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH, who is the provisional insolvency administrator for GEWA 5 to 1 GmbH & Co. KG.

The provisional insolvency administrator Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH came to a positive initial conclusion in the provisional proceedings for JT Touristik. Over the past six weeks, he and his team have managed to deliver almost all of the booked trips as planned. Only one per cent of the trips could not be delivered, and that was due to the insolvency of Air Berlin.

In the next few days, Mr Florian Zistler from PLUTA Rechtsanwalts GmbH will be verifying all options that should allow the ski lift operator Grüntenlifte Betriebs-GmbH based in Rettenberg/Kranzegg, Germany, to continue operations.

• WELP Group acquires the sites in Neustadt and Romania
• All 180 jobs at Neustadt saved
• Employees were informed today during a staff meeting

The insolvency administrators Mr Stephan Ammann and Mr Florian Schiller from PLUTA Rechtsanwalts GmbH, together with their team, succeeding in finding an investor for Dressel + Höfner‏‏. The company Dressel + Höfner GmbH & Co. KG with its facilities in Neustadt, Germany, and Dressel + Höfner International SRL Medias with its establishment in Romania will be sold and restructured by way of an asset transfer. The buyer is the WELP Group with its headquarters in Georgsmarienhütte, Germany. All 180 members of staff at Neustadt and 120 additional employees in Romania will be kept on. The two parties have agreed to maintain confidentiality about the purchase price.

By an order of 2 November 2017, the Local Court of Kempten has appointed the restructuring expert Mr Florian Zistler from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator for the ski lift operator Grüntenlifte Betriebs-GmbH.

• Purchase agreement signed with Lafayette Mittelstand Capital
• 49 jobs saved in milk production

An investor has been found in the insolvency proceedings for Münsterländische Margarine-Werke J. Lülf GmbH. Over the past two weeks, final contract negotiations have been conducted with two potential buyers. The results of these negotiations were presented to the creditors’ committee, which then approved the purchase agreement to be signed with the investor Lafayette Mittelstand Capital. In his capacity as the insolvency monitor, Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH is monitoring and overseeing the restructuring process as part of the debtor-in-possession proceedings on behalf of the creditors.

• PLUTA expert Mr Jochen Glück acting as the chief restructuring officer in the debtor-in-possession proceedings
• Company has been turned around successfully
• Buyer takes over all the 90 members of staff

Following a period of one and a half years as a debtor in possession, the chief restructuring officer Mr Jochen Glück has found an investor for Duisburg Tubes Production AG. The manufacturer of cladding tubes for the nuclear industry has been sold to Taihai Manoir Nuclear Equipment Co. The stock-listed Chinese group specialises in producing and selling nuclear power plant, special equipment and petrochemical facilities.

• The building materials business can be continued under debtor-in-possession management
• Mr Stefan Dowiasch and Mr Dirk Eichelbaum will remain the managing directors of MAAS Baustoffe
• Mr Michael Pluta has been appointed as the insolvency administrator for the two MAAS companies Profile and BEMO as well as for the holding company

New arrangements have been made in the restructuring proceedings for the MAAS Group from Ilshofen-Eckartshausen. MAAS Baustoffe GmbH, which is successfully operating ten building supplies stores, will continue under debtor-in-possession management. The Local Court of Heilbronn opened the debtor-in-possession proceedings as planned. This means that company’s management team led by Mr Stefan Dowiasch and Mr Dirk Eichelbaum will remain in office, receiving advice from the business law firm Buchalik Brömmekamp.

• Operations of the youth welfare and educational institution are being continued
• Dr Christian Kaufmann from PLUTA and Mr Tobias Kersten from FIDES advising the management team as restructuring experts during debtor-in-possession proceedings
• More than 230 people working in the institution

Akademie Lothar Kannenberg GmbH has filed an application for debtor-in-possession proceedings with the Local Court of Walsrode. The youth welfare and educational institution is being assisted in this process by Dr Christian Kaufmann from the restructuring firm PLUTA and Mr Tobias Kersten from the business consultancy and auditing firm FIDES.

• Almost 60 jobs saved
• PLUTA insolvency monitor Mr Steffen Beck very satisfied with the restructuring process
• Successful debtor-in-possession proceedings supported by Mr Andreas Elsäßer from Schultze & Braun

During the debtor-in-possession proceedings for GFi Gesellschaft für technische Ingenieurleistungen mbH, efforts to find an investor have been successful. The business has been sold to an internationally operating engineering consultancy. The company has been acquired with effect from 1 October 2017. Almost 60 employees have been taken over by the new owner. The chief restructuring officer Mr Andreas Elsäßer from Schultze & Braun and the insolvency monitor Mr Steffen Beck from PLUTA Rechtsanwalts GmbH succeeded in achieving this solution with the engineering consultancy.

• Customers can go on their trips starting on or before 31 October 2017 as planned
• Except for customers with Air Berlin flights: all such trips starting on or after 28 October 2017 have unfortunately to be cancelled

The Berlin-based company JT Touristik will be able to carry out all trips up to and including 31 December 2017. Their customers will not suffer any financial disadvantage due to the insolvency. The provisional insolvency administrator, Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH, was able to achieve this solution for the months of November and December following intensive negotiations with all of the parties concerned. Previously, it had only been possible to guarantee trips until 31 October 2017.

By an order issued on 4 October 2017, the Local Court of Berlin-Charlottenburg has appointed Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator for JT Touristik GmbH. Together with his team, the restructuring expert Dr Thiemann is in the process of obtaining an initial overview of the situation.

The insolvency administrator Dr Martin Prager from PLUTA Rechtsanwalts GmbH is able to almost fully comply with the claims filed by the creditors of BenQ Mobile.

The restructuring expert Mr Michael Reichold from PLUTA Rechtsanwalts GmbH succeeded in finding an investor for Kreder Neon Stuttgart GmbH. Their business will be taken over by wir drei werbung gmbh based in Kiel on 1 October 2017. This means that almost all of the jobs at Kreder Neon Stuttgart have been saved. The previous managing director of Kreder will manage the company’s branch office in Stuttgart in future.

Business at the APPLAUS im K Restaurant will be continued until the end of October 2017. This was decided by the provisional insolvency administrator Dr Matthias Lehr from PLUTA Rechtsanwalts GmbH in consultation with the Mayoress Ursula Keck. The APPLAUS im K Restaurant is situated in the Culture and Congress Centre in Kornwestheim.

All branches of the building materials group are open to customers as usual

Production of roofs, facades and profiles continues as usual

The Maas Group, based in Ilshofen-Eckartshausen, intends to undergo a sustained restructuring process as debtor in possession. To achieve this, the four companies: MAAS Holding GmbH, MAAS Baustoffe GmbH, MAAS Profile GmbH and BEMO Systems Engineering applied to the Local Court of Heilbronn for debtor-in-possession proceedings.

Manufacturing the largest calendar roller for approximately 8 years

Debtor-in-possession proceedings running well

Company’s order books are full

A special highlight took place at the Königsbronn plant of SHW Casting Technologies GmbH & Co. KG on Friday. The company poured 100 tons of molten iron into a mould at a temperature of 1,350 degrees in order to manufacture a roller body over 10 metres long. The last time a 105-ton casting was produced in the 13-metre-deep pit at the Königsbronn plant was approximately 8 years ago.

Following the decision taken on 8 August 2017, the Local Court of Ludwigsburg has appointed Dr Matthias Lehr from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator for the restaurant APPLAUS im K GmbH.

The insolvency administrator Mr Florian Zistler from PLUTA Rechtsanwalts GmbH announced the schedule for selling the property on August Fischer Square in Bahnhofstrasse at a press appointment in Kempten today.

Insolvency administrator Mr Ingo Thurm from PLUTA Rechtsanwalts GmbH has succeeded in finding a long-term solution for Charles Metz GmbH & Co. KG. With effect from 1 August 2017, the joinery business was taken over by the newly founded company Oliver Charles Metz GmbH by means of an asset transfer. The previous operations manager, Mr Oliver Metz, is acting as Managing Director of the new company together with Mr Martin Stöckemann. All 18 employees will be kept on.

The insolvency administrator Mr Frank Schorisch from PLUTA Rechtsanwalts GmbH has successfully concluded his search for an investor for the printing company Industrie + Werbedruck Hermann Beyer GmbH & Co. KG. The corresponding purchase agreement for the company was signed on 25 July. The business will be transferred to the new owner with effect from 1 August. Of the previous 48 members of staff, 41 will be kept on by the buyer. The new owner, the Cologne-based printing company Die UVDruckerei e.K., intends to keep the insolvent enterprise’s name Industrie + Werbedruck. Die UVDruckerei e.K. offers a variety of services in the area of offset and ultraviolet printing, such as the production of magazines, catalogues and books with PUR adhesive binding or print finishing with UV inks and gloss or matt surface. The acquisition will above all increase the company’s range of services.

• Business as usual
• PLUTA expert Marcus Katholing appointed as Chief Restructuring Officer
• Healthy order situation
• Group employs more than 330 people

SHW Casting Technologies GmbH & Co. KG Werk Wasseralfingen and SHW Casting Technologies GmbH & Co. KG Werk Königsbronn have today lodged applications for debtor-in-possession proceedings with Aalen Local Court. The Group is being assisted in this process by the restructuring firm PLUTA. Mr Marcus Katholing from PLUTA Management GmbH will be acting as the Chief Restructuring Officer of SHW Casting Technologies.

The restructuring expert Mr Michael Reichold from PLUTA Rechtsanwalts GmbH was appointed as the provisional insolvency administrator for the company Kreder Neon Stuttgart GmbH based in Schwieberdingen near Stuttgart on 19 July 2017. The attorney has already been able to obtain an initial overview of the situation that the company is in and is continuing the full scope of business operations.

Following its decision on 7 July 2017, the Local Court of Bielefeld has ordered debtor-in-possession management for the meat products company R. Hellmann Fleischwarenfabrik GmbH & Co. KG in Bünde. The debtor-in-possession proceedings will be overseen by the attorney and insolvency consultant Mr Joachim Walterscheid from the law firm Walterscheid Rechtsanwaltsgesellschaft mbH, who has already successfully supervised many debtor-in-possession and restructuring proceedings in the past few years. Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH was appointed as the provisional insolvency monitor by the insolvency court and approved by the provisional committee of creditors. The company will be restructured and prepared for the future in the coming months, and a restructuring process has already been introduced as part of the debtor-in-possession proceedings.

Mr Michael Bremen from PLUTA Rechtsanwalts GmbH concluded the sale of the real estate portfolio known as Treveria Silo-C yesterday. The contract for the sale of the Hertie and Mensing premises to the City of Rheine was notarised in Düsseldorf. Since August 2010, the PLUTA expert Michael Bremen has been the insolvency administrator for 36 German companies. The purpose of these companies is to own and manage the properties they hold. The real estate portfolio consists primarily of large retail premises. The acquisition was financed by means of an aggregate loan facility.

Münsterländische Margarine-Werke J. Lülf GmbH, based in Rosendahl-Osterwick, filed for restructuring proceedings involving debtor-in-possession management with the Local Court of Münster on 7 July 2017. The company specialises in producing diverse mixed milk beverages, margarines and fats and holds a significant market position in Germany thanks to its well-known brands “Münsterland”, “Classico” and “Smanta”.

Following the decision taken on 7 July 2017, the Local Court of Schweinfurt appointed the restructuring expert Mr Peter Roeger from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator for the printing company Druckhaus Weppert Schweinfurt GmbH.

As part of the provisional insolvency proceedings for Rheinische Vermiculite GmbH, Mr Michael Bremen of PLUTA Rechtsanwalts GmbH has now initiated the process of identifying possible investors. The Düsseldorf Local Court had earlier, through a decision of 6 June 2017, opened the provisional insolvency proceedings and appointed Mr Bremen as the provisional administrator. Using the mineral vermiculite, Rheinische Vermiculite GmbH manufactures fire protection and thermal insulation products, as well as filling material for use in packaging and materials for the production of animal feed and for plant cultivation.

• Trade show taking place in Düsseldorf from 21 to 24 July 2017
• Debtor-in-possession proceedings running to plan
• Production and deliveries of the collection assured

As planned, the Basler Fashion Group will be presenting its new spring/summer collection 2018 at the CPD show (Collection Premiere Düsseldorf). While the company is currently subject to debtor-in-possession proceedings, these are running to plan and its business operations are continuing without restriction.

The Ravensburg Local Court yesterday initiated provisional insolvency proceedings in respect of Volz Gruppe AG and its subsidiary, Volz Vertriebsservice GmbH. The court appointed two experts in restructuring, Mr Michael Pluta and Mr Michael Wahl from PLUTA Rechtsanwalts GmbH, as provisional insolvency administrators. Michael Wahl will take charge of Volz Gruppe AG while Michael Pluta has responsibility for the subsidiary company. Provisional insolvency proceedings for Volz Software GmbH, another Volz Group subsidiary, had already been initiated by Hamburg Local Court, on 22 June. In that case, Mr Dominik Montag from the KÜBLER law firm was appointed as the provisional insolvency administrator; he, too, has long experience in the field of corporate restructuring.

• First success in restructuring the company
• Ongoing talks with investors seem promising for Awetis

The Laudenbach-based company Awetis GmbH, a specialist in production technology, has sold its subsidiary awetis systems GmbH & Co. KG to the internationally operating Freudenberg Group. The parties have agreed to maintain confidentiality on the purchase price. All eight employees will be kept on by the buyer. This means that Awetis GmbH, which since April has been going through a restructuring process as part of debtor-in-possession proceedings, can now announce its first succes

The Basler Fashion Group filed for debtor-in-possession proceedings with the Local Court of Aschaffenburg yesterday. This step was inevitable due to the fact that the company needs to undergo restructuring to become fit for the future. Debtor-in-possession proceedings ensure that the company has a reliable basis for planning and also allow creditors’ interests to be taken into account. The company has already prepared a comprehensive restructuring concept and is going to implement important procedural and structural measures in the coming weeks, in particular in the supply chain. During the debtor-in-possession proceedings, the management team will remain in office and will be supported by experienced restructuring experts from the restructuring company PLUTA. Prof Dr Lucas Flöther from the law firm Flöther & Wissing has been appointed as an expert for the proceedings.

The management of Karlie Group GmbH has announced that Pet Supplies Beheer, the Dutch holding and parent company of Beeztees, has acquired Karlie Flamingo GmbH. The purchase agreement was signed on 17 May 2017. A full 100% of the equity interests as well as the trade names “Karlie Flamingo” and “Karlie” have been sold to the buyer. This means that the brand name “Karlie” will be preserved.

Awetis GmbH based in Laudenbach, a specialist for production technology, is currently going through a restructuring process as a debtor in possession. In April, the company applied for debtor-in-possession proceedings, and the local court of Mannheim agreed to this application. In this context, the company appointed Jochen Glück, a business administration expert from PLUTA Management GmbH, to the board of directors. Together with the managing director Wilfried Münster, he will be responsible for implementing the restructuring measures. The provisional insolvency monitor is Tobias Wahl from the law firm “anchor Rechtsanwälte”.

The insolvency administrator Mr Florian Zistler from PLUTA Rechtsanwalts GmbH has started the process to sell the plot of land at Bahnhofstrasse / August Fischer Square in Kempten. The creditors with security interests, which are entitled to preferential satisfaction of their claims in insolvency proceedings, finally agreed to the insolvency administrator’s distribution proposal. The PLUTA restructuring expert is selling the land as part of the insolvency proceedings concerning the assets of Ritter & Kyburz GbR. The plot has an area of 2,031 square metres.

Following the decision taken on 10 April 2017, the Local Court of Göppingen has appointed Mr Michael Wahl from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator of the fibre composite technology company Kunststoff Wagner GmbH.

The restructuring expert Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH managed to sell the business operations of Eureka Navigation Solutions AG to ASTO Telematics GmbH and thus to restructure the insolvent company by way of an asset transfer. ASTO Telematics took over the Eureka business on 1 April 2017. Five of the previously six employees will be kept on by the buyer. The sixth employee decided to leave the company. ASTO Telematics, headquartered in Gilching near Munich, is also active in the field of positioning, communication and sensor solutions.

Following the decision taken on 3 April 2017, the Local Court of Leipzig has appointed Dr Thiemann from PLUTA Rechtsanwalts GmbH as the insolvency monitor for Sächsische Druckguß GmbH and has opened the insolvency proceedings. Previously, the restructuring expert had acted as the provisional insolvency monitor for the company.

Following the decision taken yesterday, the Local Court of Bielefeld has appointed the attorney Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator of Lielje Immobilien GmbH & Co. KG. The company operates the thermal brine bath “Ith Sole-Therme” in Salzhemmendorf.

The restructuring expert Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has been the provisional insolvency administrator for Eureka Navigation Solutions AG since January. Together with his team, the attorney has already obtained an overview of the company’s situation and has maintained the full scope of business activities since Eureka filed for insolvency.

Following the decision taken on 1 March 2017, the Local Court of Bielefeld has opened insolvency proceedings for the assets of Lohmeier Schaltschrank-Systeme GmbH & Co. KG and has appointed Mr Stefan Meyer from PLUTA Rechtsanwalts GmbH as the insolvency administrator. Previously, the attorney Mr Meyer had acted as the provisional insolvency administrator of the company.

The insolvency administrator of the long-established bakery Vögele, Mr Georg Stemshorn from PLUTA Rechtsanwalts GmbH, has succeeded in finding a long-term solution for the company.

In the insolvency proceedings for the Warendorf-based personnel service enterprise OWG Personalservice, the insolvency administrator Marc Daniel Schulz from PLUTA Rechtsanwalts GmbH will pay more than half a million euros to the creditors, meaning that they will receive around 70% of their claims.

Following the decision taken on 19 January 2017, the Local Court of Heilbronn appointed Ms Heike Metzger from PLUTA Rechtsanwalts GmbH as the provisional insolvency administrator for Laura Chavin Cigars GmbH.

The die casting company Sächsische Druckguß GmbH (Drubo) has filed for debtor-in-possession proceedings with the Local Court of Leipzig. The Local Court appreciated the company’s reasons and approved the application. Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH was appointed as the provisional insolvency monitor.

Good news for the creditors of the insolvent electricity and gas company EnerGen Süd. In February, the insolvency administrator Michael Pluta from PLUTA Rechtsanwalts GmbH will pay an amount of money to the creditors. There will be a high recovery rate of 36%, which is above average.

Insolvency administrator Dr Stephan Thiemann from PLUTA Rechtsanwalts GmbH has succeeded in implementing restructuring measures for the Hock Companies in Saxony by way of an asset transfer. The contracts with the purchasers have already been signed. The parties have agreed to maintain silence on the purchase prices. The Hock Companies from Grünhain-Beierfeld supply parts to the car and electrical industries. However, in May 2016 they had to file for insolvency. The Local Court of Chemnitz then opened insolvency proceedings for the two companies in the Hock Group in July 2016.

The Local Court of Detmold has opened insolvency proceedings for the assets of Teuto-Glasveredelung GmbH & Co. KG (in Augustdorf) and Teuto-Glas GmbH & Co. KG (in Bad Bentheim) and ordered debtor-in-possession management at the same time. Furthermore, the first steps were taken towards reorienting the company. This means that considerable progress has been made in restructuring the glass processing company.