Sunday, February 28, 2016

Bankruptcy of German Pellets: To get creditors their money – ABC Online

Saturday, 02.27.2016, 21:26 · from FOCUS Online expert Peter Riedel
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German pellets is a further global player of the new energy market broke. In addition to tens of thousands of private investors whose investment is not worth anything, are also the suppliers involved before hard times. What can creditors?

When companies go into bankruptcy, the hangover is great. The current collapse of the fuel producer German Pellets and its subsidiaries leaves a huge pile of rubble. Bettina Schmudde of the law firm White & amp; Case was now used as insolvency administrator of the parent company. But if they can save millions of investors and companies that still have outstanding claims against the energy company, is unlikely.

The method is likely to take years

The only certainty is that also, this method will last for many years. What then at the end remains as quota for creditors, is in the stars. While investors typically seek their salvation in investor protection lawyers, the suppliers must determine whether they should wait for the outcome of the process or may monetize their receivables at a discount yet.

There again the opportunity to auction such demands on the Internet to the highest bidder. The market for so-called distressed assets is huge. Alone in the Debts exchange Debitos are EUR 1.3 billion available for investment in non-performing receivables. There you will also an overview of the largest bankruptcies in Germany.

How auctioning demands

That works the works shown by the example of the wind farm operator Prokon: Again, tens of thousands of investors had invested hundreds of millions of euros. The bankruptcy was avoided by conversion into a cooperative, but it is questionable whether the creditors see their money again. Therefore, a medium-sized supplier has sold a few months ago his claims in the amount of eleven million euros for 3.5 million success – better a bird in the hand than a pigeon on the roof.

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supply structures in the terminal

It is important that the supplying legal business gets a fair chance to failures and does not discriminate. Meanwhile, the industry is running in arms against Government plans to grant a priority creditor position in another bankruptcy reform tax authorities and social insurance.

it that creditors in the early stages, when the outcome of the case is still open, seize the opportunity for resale, even with big discounts all the more important. Large investors have more opportunities to influence the process and so as to create added value. This not only saves cost and effort, but above all, time.

For party a major insolvency, it may therefore be useful as soon as possible to separate from the “non-performing loans” or short NPLs, for example via an online exchange, to at least have short part of the money available again.

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