Press Releases

Insolvency administrator Mr Stefan Meyer, a managing partner of PLUTA Rechtsanwalts GmbH, made a decisive step towards achieving an M&A solution for FRIMO Group on 2 June 2023, in cooperation with FRIMO staff and his own team. A comprehensive company purchase agreement was notarised in Düsseldorf last Friday with the buyer, FRIMO Innovative Technologies GmbH, and includes a number of closing conditions that the parties will work intensively on meeting over the coming weeks.

In the insolvency proceedings for windeln.de SE, insolvency administrator Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH sold part of the listed company’s assets, such as the brand and the windeln.de Internet domain, to a Swiss investor. The parties have agreed not to disclose any details of the purchase agreement.

DRUCKPARTNER is committed to sustainably restructuring its activities with the aim of putting the business on a viable footing. To this end, management at druckpartner Druck- und Medienhaus GmbH filed to initiate debtor-in-possession proceedings with the Local Court of Essen on 23 May 2023. Debtor-in-possession proceedings offer a legal framework within which the necessary restructuring measures can be taken in a timely manner while maintaining business operations. According to current planning, the company is expected to complete its restructuring within the next four to six months.

Insolvency administrator Mr Mirko Möllen from PLUTA Rechtsanwalts GmbH has achieved viable follow-up solutions for all four DEVA Asset & Hotelmanagement GmbH hotels. The Villa Mittermaier hotel in Reit im Winkl, the Fischerwirt hotel in Ruhpolding and Vitalhotel Achentaler in Unterwössen are being operated since April by the newly founded DEVA Hotels Verwaltung GmbH. The Beim Egger hotel in Schechen is now being run by a tenant from the region.

On 15 May 2023, Sono Motors GmbH filed an application for protective shield proceedings with the competent court, namely the Local Court of Munich. The court approved the application and appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional insolvency monitor.

Turkish automotive supplier Bayrak Lastik Sanayi ve Ticaret A.Ş. will acquire the business operations of Rüster GmbH, based in Deggingen, in the region of Swabia, by way of an asset deal. All 600 employees will be kept on and transferred to the newly founded Bayrak Technik GmbH. A team led by Mr Ilkin Bananyarli of PLUTA Rechtsanwalts GmbH provided the buyer from Bursa, Turkey, with comprehensive legal support and advice for the transaction as M&A consultants.

Sono Group N.V., the listed parent company of Sono Motors GmbH, filed an application for debtor-in-possession insolvency proceedings with the Local Court of Munich. The court approved the application and appointed Ms Marlene Scheinert from PLUTA Rechtsanwalts GmbH as provisional insolvency monitor.

In the insolvency proceedings for windeln.de SE (‘windeln.de’ or the ‘company’; ISIN: DE000WNDL300 and DE000WNDL318), insolvency administrator Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH is in the process of drawing up an insolvency plan.

The KLiNGEL Group, one of Germany’s largest mail-order companies, is repositioning itself for the future. K - Mail Order GmbH & Co. KG, the group’s main company based in Pforzheim, will continue to pursue its transformation strategy under debtor-in-possession restructuring proceedings. The company has filed a corresponding application.

GHT Mobility GmbH, the company behind the CleverShuttle brand, has filed for insolvency. The Local Court of Charlottenburg has ordered provisional insolvency administration for the company’s assets and appointed restructuring expert Mr Sebastian Laboga from PLUTA Rechtsanwalts GmbH as provisional administrator.

The Local Court of Hof has ordered provisional insolvency proceedings for the assets of Bäckerei Dörsch GmbH, a bakery based in Hof. Mr Peter Roeger from PLUTA Rechtsanwalts GmbH was appointed provisional administrator on 4 May 2023. The bakery continues to operate. The main business and the nine stores have remained open. In addition, all customers and self-service counters are being supplied as usual.

Rudolf Dankwardt GmbH, a manufacturer of high-quality cosmetic products, has filed for insolvency. On 26 April 2023, the Local Court of Norderstedt ordered provisional insolvency proceedings for the company’s assets. The court has appointed restructuring expert Mr Christian Heim from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator. The company had to file for insolvency due to liquidity problems.

Mr Georg Jakob Stemshorn from PLUTA Rechtsanwalts GmbH has delivered good news in the proceedings for the Schwarze Kiste gastronomy business based in Augsburg: the creditors approved the insolvency plan presented to them at yesterday’s voting meeting at the Local Court of Augsburg. The PLUTA restructuring expert welcomed this decision. Despite seven-figure debts, Schwarze Kiste, a popular business in the region, has now been successfully restructured and is well equipped for the future. The Local Court of Augsburg will soon terminate the proceedings. The insolvency administrator will then monitor that the creditors’ legitimate claims are satisfied. The recovery rate is 23%.

A PLUTA team advised the buyer of insolvent company Galvanoform during the acquisition and takeover process. The new owners are the experienced businessman Mr Hans-Günter Bayer and co-investors. The business operations of the precision tool manufacturer based in Lahr in the Black Forest region were transferred to Galvanoform Innovative Technologies GmbH effective 1 April 2023.

Insolvency administrator Mr Peter Roeger from PLUTA Rechtsanwalts GmbH has successfully completed discussions with investors in respect of SINGER INGENIEUR CONSULT GmbH. As a result, G.I.A. Planung GmbH & Co. KG based in Bayreuth has acquired the business operations of the insolvent engineering services provider from Bayreuth effective 1 April 2023. All 70 or so jobs have been saved with the agreed solution.

Warendorf, a manufacturer of premium kitchens, has been saved. Attorneys Mr Stefan Meyer and Dr Ria Brüninghoff from PLUTA Rechtsanwalts GmbH have sold Warendorf Küchenfabrik GmbH and Warendorf Küchen Retails GmbH to a company in the Hülsta Group effective 1 April 2023. The contracts were signed last night.

Attorney Dr Stephan Laubereau from PLUTA Rechtsanwalts GmbH has succeeded in finding an investor in the insolvency proceedings for Pforzheim Leopoldstrasse Entwicklungs GmbH. Municipal company STADTBAU GmbH PFORZHEIM has acquired the property belonging to the business.

Property management firm IMMO:Schreiber GmbH from Lower Bavaria has filed for insolvency. On 3 March 2023, the Local Court of Deggendorf ordered provisional insolvency proceedings for the company’s assets. The court appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional administrator.

Restructuring expert Mr Frank Brachwitz from PLUTA Rechtsanwalts GmbH had good news today regarding insolvent Berlin-based Internet start-ups Natural Mojo and Skingood Garden. A company of the renowned GÖDE Group is set to acquire the start-ups’ business operations effective 1 April 2023 by way of an asset deal and will keep on the entire workforce.

.J. H. Pölking GmbH & Co. KG based in Osnabrück filed for debtor-in-possession proceedings on 20 March 2023. The Local Court of Osnabrück approved the application, ordered provisional debtor-in-possession proceedings and appointed Mr Stefan Meyer, a specialist attorney for insolvency and restructuring law with PLUTA Rechtsanwalts GmbH, as provisional insolvency monitor. Founded in 1894, shoe wholesaler Pölking has a long history. By taking this step, the company wants to use the options afforded by today’s debtor-in-possession proceedings to adapt itself to the changed market conditions, restructure itself for the future and re-establish its competitiveness.

Insolvency administrator Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH has achieved a positive outcome in the insolvency proceedings for the Schöneis paper processing company. The M&A solution negotiated for the business based in Lower Saxony was unanimously approved today by the creditors’ assembly. This means that the asset deal can go ahead as planned effective 1 April 2023. The business will be acquired by Bernd Häseler Buchbinderei GmbH from Minden (North Rhine-Westphalia). In the future, the company will operate under the name Häseler & Schöneis Buchbinderei GmbH and be part of the well-known Sattler Media Group.

Insolvency administrator Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has concluded the purchase negotiations for metron Vilshofen GmbH. The purchase agreement has already been signed and notarised.

On 14 February 2023, the Local Court of Münster ordered provisional insolvency proceedings for the assets of FRIMO Group GmbH and FRIMO GmbH (FRIMO). Attorney Mr Stefan Meyer, a restructuring expert from PLUTA Rechtsanwalts GmbH, has been appointed provisional insolvency administrator.

Steel construction company Aschenbrenner GmbH is to undergo a restructuring process under debtor-in-possession proceedings in order to reposition itself for the future. It is being supported in this by Mr Thomas Planer, a restructuring expert from consultancy Planer & Kollegen GmbH. “Debtor-in-possession proceedings will provide Aschenbrenner with sufficient liquidity to take the steps that are necessary to turn around its performance. The prospects for this are good, and the concept is coherent. We will do everything we can to get this long-standing company back on a sound footing again,” said Mr Planer. PLUTA attorney Mr Patrick Meyerle will oversee the proceedings in the best interests of creditors in his capacity as court-appointed insolvency monitor.

Good news in the insolvency proceedings for surf4shoes GmbH: insolvency administrator Mr Michael Pluta from PLUTA Rechtsanwalts GmbH has succeeded in finding a follow-up solution for the company. Effective 1 March 2023, a subsidiary of Commertunity AG will take over the online retailer’s business operations and assets. All of the approximately 20 employees will be kept on.

Schmuckrausch Vertriebs GmbH & Co. KG, a jewellery retailer with six sales outlets and an online shop, has filed for insolvency. Following this, on 1 February 2023, the Local Court of Munich ordered provisional insolvency administration for the company’s assets and appointed Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH as provisional administrator.

The FRIMO Group, a German technology group, intends to restructure itself with the means afforded by insolvency proceedings. Management therefore filed for insolvency with the competent court, namely the Local Court of Münster. Following this, the court appointed Mr Stefan Meyer, a restructuring expert from PLUTA Rechtsanwalts GmbH, as provisional insolvency administrator. The FRIMO Group is a leading provider of technologically advanced tools, equipment and turnkey production systems for automotive customers on an international scale.

Patrick Meyerle from PLUTA Rechtsanwalts GmbH is still looking for an investor for the kitchen company Küchen Quelle. He has been acting as provisional insolvency administrator since the end of November 2022.

The Local Court of Bayreuth ordered provisional insolvency proceedings to be opened for the assets of SINGER INGENIEUR CONSULT GmbH based in Bayreuth on 1 February 2023. Mr Peter Roeger from PLUTA Rechtsanwalts GmbH was appointed provisional administrator. He is working with the management team to keep the engineering services provider running. All orders are being fulfilled as planned.

Kissinger Sonne GmbH & Co. KG has filed for insolvency. Yesterday, the Local Court of Schweinfurt then ordered provisional insolvency administration for the care provider’s assets and appointed Mr Peter Roeger from PLUTA Rechtsanwalts GmbH as provisional administrator.

Medium-sized company Intercontinentale ZIEGRA Eismaschinen GmbH based in Isernhagen, near Hanover, filed for debtor-in-possession restructuring proceedings with the Local Court of Hanover on 26 January 2023. The preparatory work for the debtor-in-possession proceedings were carried out by Mr Thorsten Hunsalzer from consultancy Gehrke Econ in his capacity as attorney of record. The court approved the application on 27 January 2023.

STOTZ Feinmesstechnik GmbH from Gerlingen, near Stuttgart, has filed an application for restructuring under debtor-in-possession proceedings. The Local Court of Ludwigsburg thereupon ordered provisional proceedings to be opened. Restructuring expert Mr Steffen Beck from PLUTA Rechtsanwalts GmbH is supporting the company in his capacity as chief restructuring officer (CRO). Dr Dietmar Haffa of law firm Schultze & Braun, the court-appointed provisional insolvency monitor, will oversee the proceedings in the interests of the creditors.

windeln.de SE (‘windeln.de’ or the ‘company’; ISIN: DE000WNDL300 and DE000WNDL318) has stated that the Local Court of Munich today opened the insolvency proceedings for its assets, which had been filed for on 4 November 2022. Mr Ivo-Meinert Willrodt from PLUTA Rechtsanwalts GmbH has been appointed insolvency administrator. Prior to this, he had already been acting as provisional administrator for the company.

Alfred Reimer GmbH from Gronau, a company specialising in the production of high-precision parts, yesterday filed for insolvency under debtor-in-possession proceedings with the competent Local Court in Münster due to imminent illiquidity. The court assented to this application and ordered provisional debtor-in-possession proceedings.

Restructuring expert Mr Sebastian Laboga from PLUTA Rechtsanwalts GmbH is holding talks with investors regarding Fraugster, a start-up and developer of innovative anti-fraud software. The Berlin-based company is involved in provisional insolvency proceedings, as a necessary funding round as part of an M&A process could not be finalised. On 17 January 2023, the Local Court of Charlottenburg appointed Mr Sebastian Laboga as provisional insolvency administrator.

Skylife Fitness GmbH has been engaged in restructuring proceedings since the start of the year. The company has a workforce of almost 30 employees. Mr Manfred Lehenberger founded Skylife Fitness in 2011 and made the studio a popular training venue for all kinds of sports, health and fitness enthusiasts. The company is now to be restructured under debtor-in-possession insolvency proceedings with the support of restructuring expert Mr Thomas Planer of Planer & Kollegen GmbH. Mr Georg Stemshorn of PLUTA Rechtsanwalts GmbH in Augsburg has been appointed provisional insolvency monitor by order of the competent court.

TK-Oberfläche GmbH, a surface coating specialist, filed for insolvency under debtor-in-possession proceedings last Friday. The Local Court of Bielefeld, as the competent court, approved the application. This means that the management team will remain in place and can use the opportunities afforded by debtor-in-possession proceedings to guide the company through the proposed and rigorously planned restructuring process.

NEUERO Farm- und Fördertechnik GmbH based in Melle has successfully completed its restructuring, just in time for the start of the 2023 business year. The company, which currently employs around 50 people, had filed for debtor-in-possession proceedings with the Local Court of Osnabrück on 23 February 2022. The family business has been in existence for over 100 years and is a market leader in storage systems and silos used for grain storage and drying, conveyor equipment, and grinding and mixing technology, with manufacturing based in Germany. It achieved stable revenues of approximately 20 million euros in recent years. Around 50% of total sales are accounted for by the construction of silo systems, of which NEUERO has already built over 20,000 in a responsible role.

At the beginning of the year, it has been possible to conclude the pending M&A transaction for WIKING Helikopter Service GmbH. This was the positive news from insolvency administrator Dr Christian Kaufmann of PLUTA Rechtsanwalts GmbH. The purchase agreement signed in late September 2022 was originally subject to a number of conditions, all of which have now been met.

The business of automotive supplier BUKUMA is being operated by an investor, effective as of 1 January 2023, which means that the long-standing company has been preserved and can look to the future with confidence. The BUKUMA business has been taken over as part of an asset deal by Restart GmbH & Co. KG, whose entity Heinze Solutions GmbH operates in the automotive sector, with all of the some 200 employees being kept on. The plastic injection moulding company’s operations will remain in Boppard and its other two sites in Kirchwald and Dörth. The purchase agreement was signed in mid-December 2022 but was subject to specific closing conditions being complied with. Now that all of these (suspensive) conditions have been met, the transaction can be completed as planned at the turn of the year 2022/2023. The parties have agreed not to disclose the purchase price or the other terms and conditions under the asset deal.