Our Case Studies

Appointed as Administrators to Silverjet, the business class-only transatlantic airline, operating from London Luton to New York and Dubai. The company had yet to receive the proceeds of a significant drawdown request made under its loan facility and working capital reserves were low. A sale of the business as a whole was agreed, however, due to unusually complex negotiations between the purchaser and third parties, the sale was not able to complete. As a result of the collapsed sale, the workforce was made redundant, despite working hard to prevent this. Subsequently, all assets were sold for the benefit of the company’s creditors.

Conducted an economic loss analysis in connection with a contract dispute between Boeing Corporation and Atlas Air Holdings, a U.S.-based air cargo and charter airline carrier. The contract dispute involved the conversion of multiple Boeing 747 jets from a passenger-configuration to a cargo-configuration.

The Tiziano Gelati brand is known for its three ice-cream parlours and one restaurant in northern Germany. Nevertheless, the company had to file for insolvency: proceedings were ordered in summer 2015 and a PLUTA attorney was appointed insolvency administrator. A few months later, the PLUTA team was able to sell the business with the consent of the creditors’ assembly. The buyer has experience in the industry and is successfully operating in other German /our-firms. All staff were kept on. The creditors received a higher-than average double-digit recovery rate on their claims.

Bürgerbräu Wolnzach AG from Bavaria in Germany had to file for insolvency due to liquidity problems. A PLUTA restructuring expert acted as insolvency administrator. He kept the brewery’s business operations going and held negotiations with several interested buyers. Although the small brewery ceased brewing beer, the insolvency administrator was able to continue selling beer as the company’s warehouses were well stocked. Finally, it was possible to sell the brewery. The buyer originates from the Upper Bavaria region but has been living in the US for several years, where he successfully operates two breweries. Having found a buyer with roots in the region, the PLUTA team achieved the best solution for the brewery and the creditors. This also means that this region, home to the German Hop Museum, will still have a brewery in future.

There is good news for the ski resort in the Allgäu region. After an insolvency filing, things are looking up again. The PLUTA insolvency law experts were able to find an investor for Grüntenlifte. In addition to the ski amenities, the investor from the region also plans to create a year-round family-friendly mountain attraction. New gondola and chair lifts, a natural toboggan run and an extended network of hiking trails will ensure that visitors can enjoy the Allgäu’s pre-alpine scenery. The sale was very challenging, as the PLUTA experts not only negotiated an extensive array of contracts, but also had to take into account different ownership structures and more. The notary appointment alone lasted 14 hours, which shows how complex the matter was.

Personalised customer care, premium products and German quality. All signs point towards a positive future for Warendorf – Die Küche GmbH. The PLUTA restructuring experts were able to successfully keep the kitchen manufacturer’s business operations going and find an investor four months after the company had filed for insolvency. With a new investor from Hong Kong and a new name – now Warendorf Küchenfabrik GmbH – but the same high quality with a “made in Germany” guarantee, customers worldwide will welcome the solution achieved. This is also a positive result for employees. Most of the some 110 original jobs have been saved through the takeover.

The family company’s success story began in the eighties, when KARMEZ Dönerfabrik brought the first industrially manufactured doner kebab skewer to the market. But the company had to file for insolvency. The PLUTA experts were able to keep the longestablished company going and find an investor. This means that the high-quality doner kebab skewers will still be produced in Frankfurt in the future. By selling the business, PLUTA has achieved the best possible result for the company, the staff and the creditors. More than 60 employees were taken over by the buyer.

Insolvency proceedings for the assets of Lielje Immobilien GmbH & Co. KG from Lower Saxony in Germany were opened in spring 2017. The company operated the well-known Ith- Sole-Therme, a thermal spa offering a pool area, various saunas, a restaurant, wellness services and more. The PLUTA restructuring experts kept the business running for nine months, during which time visitors had access to all facilities, without restriction. Following intensive negotiations, the PLUTA team found a solution and sold the business to a group of seven investors, all of whom came from the region and felt it was very important to maintain the spa. All jobs and the popular leisure facility in this rural part of Lower Saxony were thereby secured.

The management of Münsterländische Margarine-Werke J. Lülf GmbH, a supplier of margarine and fat products as well as milk drinks, conducted debtor-in-possession insolvency proceedings. Under such an arrangement, management remains in charge and guides the company through the crisis itself. A PLUTA expert acted as insolvency monitor, supervising the restructuring process in the interests of the creditors. The insolvency was mainly the result of the adverse market situation and the decline in demand in the lowermargin margarine segment. Business activities were maintained without restriction during the proceedings, and an investor was sought. The successful bidder presented an acquisition concept that would retain the most jobs. A total of 49 jobs were saved as a result.

The insolvency law experts from PLUTA Rechtsanwalts GmbH found an investor for Straubinger Metallbau GmbH, based in Bavaria. The company, which has been operating for more than 40 years, filed for insolvency due to liquidity problems. Its core competencies lie in metal and steel construction and fire protection measures. In this area, the company also advises architects and building contractors. The buyer is the former managing director, who set up the company and then successfully managed it for years. Under the asset deal, this long-standing company will retain its name and all jobs have been saved.