GÖRG partners join the board of KTG Energie AG in order to assist during interim debtor-in-possession proceedings
[Hamburg, ] With installed capacity of over 56 MWeL, KTG Energie AG is one of the largest operators of biogas plants in Germany. Following the insolvency of its parent company KTG Agrar SE, KTG Energie AG decided to advance along its path to recovery as a debtor-in-possession under insolvency law.
GÖRG partners Dr. Thorsten Bieg (restructuring, Hamburg) and Dr. habil. Gerrit Hölzle (insolvency administration, Bremen/Hanover), who teamed together to successfully assist the AC Biogas Group during restructuring, have now become members of KTG Energie AG’s management board. They will be supported by another GÖRG partner, Sascha Feies from the Berlin office, as was the case during the restructuring of the Dresden DNZ Group, which had also requested debtor-in-possession proceedings.
The company will continue its business as a going concern without any restrictions. KTG Energie AG’s operative subsidiaries are not affected by the insolvency. For the purpose of reorganizing the Group using the restructuring options provided under insolvency law, talks have already begun with regard to the financing of the entire subgroup of KTG Energie AG and its subsidiaries.