[Bremerhaven, ] After the Bremerhaven-based WeserWind Group, a former producer of foundations for offshore wind turbines that belongs to the Georgsmarienhütte Group, filed for the initiation of insolvency proceedings for most of the Group’s companies in January 2015, the first of these proceedings has come to a surprising conclusion that was welcomed by creditors.

The insolvency administrator appointed by the Bremerhaven Local Court, GÖRG partner Dr. Gerrit Hölzle, submitted an insolvency plan to the court that made it possible to wind up the proceedings ahead of schedule and satisfy the claims of all of the company’s creditors in full. The creditors approved the plan on 5 October 2017.

This successful outcome was made possible by an agreement GÖRG partner Hölzle was able to reach with the shareholder of the WeserWind Group, Georgsmarienhütte Holding GmbH, in his capacity as insolvency administrator. The latter company made the required capital available.