WhatTheyThink

Zanders GmbH: Insolvency Proceedings are Opened; Business Operations Continue

Press release from the issuing company

On 1 September 2018, Cologne district court has opened insolvency proceedings over the assets of Zanders GmbH. Lawyer Dr. Marc d'Avoine was appointed as insolvency administrator. The managing directors Ferlan, KöhlerMa and Dr. Geiser have at the same time discontinued their previous operational activity.

Under the leadership of the insolvency team with ATN lawyers Dr. Marc d'Avoine, Oliver Teubler and business graduate Paul Michels and with the support of external consultants, the operation of the paper producer with more than 500 employees will be continued. Whether and which reorganization measures have to be taken will be decided in a timely manner on the basis of the ongoing analysis. The chosen restructuring course will be continued.

Zanders stands for quality and high quality products worldwide. This excellent reputation forms the basis for the search for potential investors. Interest is present in the market, initial talks are already under way. A conclusion is expected at the earliest in October. The team around Dr. d'Avoine continues to be confident that it will be able to reach a viable solution for all concerned, paving the way for Zanders GmbH into the future.

Insolvency process at Cologne District Court, docket number: 75 IN 232/18.

Discussion

Join the discussion Sign In or Become a Member, doing so is simple and free