PLUTA press contact
+49 89 210 257-22Download as PDF
A decisive obstacle has been overcome in the process of restructuring Hittech Prontor GmbH based in Bad Wildbad: the insolvency plan presented by the company has been unanimously approved by the creditors’ assembly and subsequently confirmed by the Local Court of Tübingen. “Today’s approval by creditors means that we have made a decisive step towards achieving the goal we set ourselves for the debtor-in-possession proceedings, namely to keep Hittech Prontor’s business running, sustainably restructure the company and put it back on a solid footing in order to secure its future,” said Mr Volker Kiefer, managing director of Hittech Prontor GmbH.
“Termination of the proceedings as the last step in this process is expected to take place at the turn of the year 2020/2021,” he added.
Hittech Prontor’s management is being supported in the proceedings by business law firm Buchalik Brömmekamp and corporate consultancy plenovia GmbH, both headquartered in Düsseldorf. Restructuring expert Mr Andreas Schmieg (Buchalik Brömmekamp) will continue to act as general agent for Hittech Prontor GmbH. “We have already succeeded in stabilising the company’s profit and cash situation and laying the foundation for its future on a sustained basis during the proceedings,” he said.
The Local Court of Tübingen has appointed attorney Mr Ilkin Bananyarli from PLUTA Rechtsanwalts GmbH in Stuttgart as insolvency monitor to oversee the proceedings and represent creditors’ interests. “All involved have worked hard over the past weeks and months,” he said, expressing his satisfaction with what has been achieved so far. “Thanks to this outcome, made possible with the help of all of the creditors, this long-established company can now look positively to the future.”