The online magazine reports about the insolvency of Holzverpackungen Hüfingen in provisional self-administration assisted by PLUTA Expert Steffen Beck and Jochen Glück. The company´s business in Germany could continue as before and the subsidiaries in Poland and Spain are not affected by the insolvency proceedings.
Who’s Who Legal and Global Restructuring Review list 569 lawyers from 63 jurisdictions of the restructuring and insolvency legal markets around the world. Mr Pluta and Mr Prager are recognised this year, too.
After extensive research, Global Restructuring Review published an inaugural GRR 100, an annual guide to approved law firms for cross-border restructuring and insolvency matters around the world. PLUTA is listed in this guide. GRR writes: The outward-looking German insolvency specialists continue to dominate the domestic market with a steady stream of court appointments. Pluta, which developed a stranglehold on the German restructuring market through gradual absorption of smaller firms, has recently turned its expertise in the German market to cross-border work.
GRR invited 10 cross-border insolvency practitioners in London. The only German roundtable participant was Ivo-Meinert Willrodt, a partner at PLUTA in Munich. He argued that it will be very difficult for the UK to continue „marketing“ its schemes to Europe in light of the recognition issues accompanying Brexit. Willrodt also pointed to a new business insolvency directive proposed by the EU, which would introduce harmonised restructuring rules including pre-insolvency procedures all around Europe. He also explained the situation in Germany. Some German companies have changed their COMI to take advantage of different domestic courts.
The management of Karlie Group GmbH submitted an application to institute insolvency proceedings under self-administration. The company is receiving support from the lawyers and restructuring experts Dr Maximilian Pluta and Stefan Meyer.
PLUTA Expert Ivo-Meinert Willrodt and Mark Craggs from Norton Rose Fulbright in UK commented in a guest article the legal impact of Brexit, the impact on cross-border restructurings involving the UK and the effect of Brexit on schemes.
Mr. Michael Pluta and Dr. Maximilian Pluta claim in a guest article for the business publication European CEO that many companies still only respond to corporate crises when it is too late to take effective action.
Credittoday.com reports about the launch of BTG Global Advisory – an international alliance of independent insolvency, restructuring and financial advisory firms operating around the world. PLUTA is one of the core members of the group.
Stephan Ammann from PLUTA Rechtsanwalts GmbH has sold the Bürgerbräu Wolnzach brewery to Urban Chestnut Brewing Company. The buyer has been living in the US for several years, where he successfully operates two breweries.
In a preliminary decision, Mirko Möllen, the insolvency administrator of Viktoriagruppe, did not accept that the diesel oil deposited in the group’s German storage facility was the property of the Czech Republic.