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On 10 November 2020, the Local Court of Aurich ordered provisional insolvency proceedings to be opened for the assets of Lottmann GmbH & Co. KG. The court appointed Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH as provisional insolvency administrator for the forwarder from Aurich in Lower Saxony.
The company has had to file for insolvency due to liquidity problems. It has been agreed with management at the long-standing forwarder that business operations will be maintained without restrictions. All customers will receive their deliveries as usual, in compliance with hygiene requirements. The company based in East Frisia, a region in Lower Saxony, has a staff of 17 employees, whose salaries are guaranteed thanks to specific substitute benefits provided under German insolvency law.
Ensuring the family company’s long-term viability
PLUTA restructuring expert Dr Kaufmann explained, “We are currently in the process of obtaining an overview of the forwarder’s financial situation. The company has a good reputation and motivated employees. We will begin the process of finding an investor as soon as possible.” The goal is to ensure the established company’s viability in the long term. To this end, the PLUTA team, which also includes attorney Mr André Gildehaus, will hold detailed discussions with potential investors in the coming days and thoroughly check all offers.
The family business is led by Mr Jann Lottmann, who coordinates orders from the company’s headquarters in Aurich, in the heart of East Frisia. The forwarder has been delivering goods for many years, principally for customers in the drinks, wood, steel and construction materials sectors. Its fleet with some 14 tractor units and 21 semitrailers includes not only curtainsider and sliding floor vehicles but also articulated lorries for container transport.
Dr Christian Kaufmann has extensive experience in restructuring crisis-stricken companies. For example, the manager of the PLUTA branches in Bremen and Oldenburg supported the proceedings of heavy-duty haulage company W & F Franke Schwerlast Internationale Spedition GmbH from Bremen as insolvency administrator and the restructuring of the SKN Group from Norden/Emden as insolvency monitor.
PLUTA helps companies in legally and economically difficult situations. Since the company was founded in 1982, PLUTA has constantly grown and today has a staff of approximately 500 employees in Germany, Spain and Italy. More than 290 business and management experts, attorneys, business lawyers, tax consultants, public auditors, certified accountants, economists, banking and bookkeeping experts, engineers and insolvency administration specialists, many with multiple qualifications, ensure practicable and economically sound solutions. In particular, PLUTA provides support in restructuring companies affected by a crisis or insolvency and in continuing business operations, if necessary by involving restructuring experts in a responsible role. PLUTA is one of the top enterprises specialising in restructuring and turning around companies, as demonstrated by rankings and awards from INDat, JUVE, The Legal 500, Who’s Who Legal, brandeins, Wirtschaftswoche, Focus and ACQ 5 Law Award. Further information at www.pluta.net.