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Dr Ria Brüninghoff from PLUTA Rechtsanwalts GmbH has been acting as insolvency administrator for Natura-Holzbau GmbH based in Rheine since 28 November 2022. The attorney has now achieved a solution: Natürlich im Holzhaus GmbH has acquired the business effective 1 December 2022. Professional timber frame houses and log cabins, as well as roof trusses and carports, will continue to be planned and manufactured under this name going forward. A total of 28 employees will work for the transfer company.
PLUTA attorney Dr Brüninghoff said, “We have held numerous discussions over the past few weeks. The industry is facing many challenges, including high energy and raw material prices. After the main customer cancelled its orders, the underlying conditions made it challenging to find a solution that would preserve the business. After all, these orders accounted for most of the previous sales, which meant there were effectively no longer any significant orders on hand. This makes it all the more pleasing, and conducive to the interests of the creditors involved, that we have now found this constructive solution in the form of a transfer to Natürlich im Holzhaus GmbH, with 28 employees working under the newly founded transfer company in the future.”
The restructuring team under Dr Brüninghoff is also currently in discussions with the former main customer regarding employment opportunities for the remaining 40 or so motivated employees. This approach has already proven successful in the case of a number of individuals.
Structured M&A process set up
Since the application for insolvency was filed in late September, the PUTA team has been keeping the business operational together with management. A number of construction projects have been completed since then. The restructuring experts have also examined specific facts pertaining to construction law. Uncompleted projects were transferred to third parties, with the team helping in the search for alternatives.
At the same time, a structured process aimed at finding an investor was launched and managed by the restructuring expert together with her team. “We spoke with several interested companies in the industry in this regard. The agreement that has now been reached represents the best possible outcome for the business and for creditors,” added Dr Brüninghoff. She is being supported in the PLUTA restructuring team by attorney Ms Stefanie Breitenströter-Brüggemann and business lawyer Mr Tim Austmeyer.
Natura-Holzbau GmbH based in Rheine near Münster filed for insolvency in late September 2022. Following this, the Local Court of Münster ordered provisional insolvency proceedings to be opened for the company’s assets at the end of September, with regular proceedings being opened on 28 November. Creditors can file their claims for registration in the insolvency schedule.
Dr. Ria Brüninghoff
Rechtsanwältin, Fachanwältin für Insolvenz- und Sanierungsrecht
Rechtsanwältin, Diplom-Rechtspflegerin, LL.M.
Diplom-Wirtschaftsjurist (FH), Tax Consultant