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Following the decision taken on 3 May 2016, the Local Court of Kempten has opened insolvency proceedings for the assets of Ritter & Kyburz GbR that manages the property located at Bahnhofstrasse / August-Fischer-Platz in Kempten. The court has appointed the restructuring expert Mr Florian Zistler from PLUTA Rechtsanwalts GmbH as the insolvency administrator. The insolvency of Ritter & Kyburz GbR is related to a project for the construction of commercial premises at August-Fischer-Platz in Kempten.
“The objective of the insolvency proceedings is the collective settlement of creditors’ claims pursuant to section 1 of the German Insolvency Code. Therefore, it is our goal as part of the insolvency administration process to reach agreement amongst the parties involved in order to achieve the best possible solution in consideration of the conditions prevailing. Above all, we are striving for a joint exploitation solution for the property,” explained the PLUTA attorney Florian Zistler.
In the region, the construction project is known as the “big hole” since the investors brought the project to a standstill for the time being after the excavation work had been completed and parts of the underground garage had been built. In the meantime, the underground garage has been completed as part of sequestration proceedings.