The automotive supplier Scheeff, based in the German federal state of Baden-Württemberg,
had to file for insolvency some years ago. The PLUTA insolvency administration team kept
the business going for almost one year and implemented important restructuring measures.
Some 1.5 million euros had to be invested during the insolvency proceedings to meet official
and other requirements. Following intensive negotiations, a solution was found for the
company. A well-known group of companies from the region with over 1,000 employees
acquired the foundry and kept on more than 100 of its employees. Creditors received a
recovery rate of more than 20%.