GÖRG advises Wilhelm Wißmann GmbH on reorganisation in self-administration

Köln, 23.05.2024

On 16 May 2024, Duisburg Local Court granted the insolvency application of Wilhelm Wißmann GmbH from Schermbeck and ordered provisional self-administration. GÖRG partners Holger Rhode and Dr Raul I. Taras were appointed to the company's management team to support the management and are responsible for the restructuring as the company's chief restructuring officer (CIO).

The aim of the self-administration proceedings is to restructure Wilhelm Wißmann GmbH in a sustainable manner and thus restore its full economic viability. All jobs of the approximately 70 employees are to be retained. Production will continue seamlessly during the proceedings. Salaries are also initially secured for a period of three months via the insolvency substitute benefits. 

Wilhelm Wißmann GmbH is a supplier to the rail vehicle industry in a niche growth market in Europe in the interior fittings division for rail vehicles. Specifically, it manufactures flooring, partition walls, ceiling elements, air conditioning ducts, boarding furniture and catering furniture for rail vehicles. This market is occupied by only a few other competitors in Germany. The applicant's customers include Siemens, DB, Stadler, Alstom and RCS.

A GÖRG team led by the reorganisation and restructuring experts Holger Rhode and Dr Raul I. Taras will develop a restructuring plan together with the operational management of the supplier. Thomas Montag from the management consultancy MONTAG&MONTAG will join the management team as CRO. Lawyer Sarah Wolf from Anchor Rechtsanwaltsgesellschaft mbH has been appointed provisional trustee by Duisburg Local Court. Wolf will take over the judicial supervision of the restructuring process in order to protect the interests of the creditors.

Advisor Wilhelm Wißmann GmbH 

GÖRG Partnerschaft von Rechtsanwälten mbB
Holger Rhode (Restructuring Manager, Partner, Insolvency Administration, Düsseldorf)
Dr Raul I. Taras (Restructuring Managing Director, Partner, Restructuring, Cologne)

Dipl. Kfm. Thomas Montag (Reorganisation Manager)

Provisional Trustee 

Anchor Rechtsanwaltsgesellschaft mbH 
Sarah Wolf

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