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By its decision taken on 27 December 2018, the Local Court of Heilbronn ordered provisional insolvency proceedings for the assets of Frenzel GmbH and appointed Mr Michael Pluta from PLUTA Rechtsanwalts GmbH as the provisional administrator.
The company based in Obersulm has a staff of 70 employees, whose salaries are guaranteed for the next three months – December, January and February – thanks to specific substitute benefits provided under German insolvency law.
Filing for insolvency became inevitable for the company due to liquidity problems. The restructuring expert Mr Michael Pluta and his team are now going to gain an overview and to analyse the financial situation of the bus equipment provider. The company is maintaining normal operations without restriction. PLUTA’s team also includes Ms Heike Metzger.