Friday, May 27, 2016

Have Schlecker Supplier conceded too much? – FAZ – Frankfurter Allgemeine Zeitung

In 2012, Schlecker shelves were still full.

For four years already Schlecker is insolvent, but the case is far from over. Around half a billion euros equivalent to standing in the room, and creditors can make hopes, because the liquidator Arndt Geiwitz systematically looking for ways still raise money in respect of claims. Now, some brand owners have to focus on being pulled by Geiwitz in court, because over the years they have probably overcharged for sugar and chocolate, detergent and coffee.

Susanne Preuss author: Susanne Preuss, business correspondent in Stuttgart.

it is not about little money, but to several hundred million euros. With the help of anti-trust hopes the Stuttgart liquidator Geiwitz to persuade the supplier to repay. Basis are completed antitrust proceedings, were sentenced by the manufacturers of consumer goods have to penalties. After negotiations between the liquidator and the manufacturers have not led to an agreement out of court, Geiwitz now plans to take the legal action and sue for damages.

Because of deadlines expire in June, the step is imminent. “There is already something come in,” the spokesman of the liquidator comments on the case. The “Manager Magazin” is based on a reimbursement potential of 300 million euros. Seven cartel cases in which the Federal Cartel Office has ruled in the years 2007 to 2013 were, are mounted so that Schlecker had suffered damage.

it should actually come to significant repayments, also the former Schlecker can employees make hopes. They are not bad because in the hierarchy of creditors. Of the money that exists at the end of the insolvency proceedings, be covered first, the costs of the insolvency proceedings. After the mass liabilities are satisfied, and only if it is fully completed, the insolvency claims to be compensated.

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One of the insolvency assets include receivables from the unpaid wages, which is about 150 million euros. This sum is divided in turn into a requirement of the federal agency for work and the demands of the employees themselves, who had to give up about one third of the money. Around two-thirds of their income received the Schlecker employees who were affected by branch closures, until the end of their period of notice of the federal agency.

However, it may take years before the bankruptcy procedure is completed when now actually the branded individually sued for repayment of excessive demands. Also, not sure if it comes to a complete payment of arrears of unpaid wages. If less money to be there, a quota is determined by the mass creditors are compensated.

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