Munich, 12 December 2023. By a large majority, the creditors’ meeting of Munich-based bmp greengas GmbH has approved the insolvency plan submitted by the self-administration on 12 December 2023. The restructuring is thus almost complete. he proceedings can be suspended shortly after the insolvency plan is confirmed by the court and becomes legally binding.
A key prerequisite for the successful restructure was the takeover bid by EnBW AG, which, in addition to the restructuring measures initiated as part of the self-administration proceedings and robust agreements with suppliers and customers, enables the company to continue its business operations and preserve jobs. “The restructuring concept initiated and implemented at an early stage and the constructive cooperation with all parties involved created the foundation for the broad approval of the insolvency plan across all creditor groups, despite the difficult environment,” says restructuring manager Jochen Sedlitz from the law firm GRUB BRUGGER.
bmp greengas GmbH had applied for insolvency proceedings in May 2023 after the risk and maturity ratio of sales contracts concluded with customers and purchase contracts concluded with suppliers increasingly deteriorated. The business strategy, which had been successful for many years, had deteriorated drastically since 2022 under the indirect influence of the war in Ukraine.
GRUB BRUGGER law firm
Specialist solicitor for insolvency law
for the duration of the reorganisation process
a member of the bmp management board
saalto Agentur und Redaktion GmbH
Phone: +49 (0)172/72610-41