The law firm of an attorney serving as insolvency administrator to German Pellets GmbH has released a statement noting three of the companys pellet plants in Germany have been sold, with negotiations ongoing in the sale of a fourth.
According to the statement, a district court in Schwerin, Germany, opened the insolvency proceedings over the assets of German Pellets on May 1 and appointed Bettina Schmudde, an attorney and partner with law firm White & Case, as insolvency administrator. On the same day, Schmudde closed several contracts with investors, which ensure the continuation of significant parts of the German Pellets group. The company began insolvency proceedings earlier this year.
The Wismar, Germany, site will be take…
Read the full article at: http://biomassmagazine.com/articles/13244/insolvency-administer-sells-3-of-german-pelletsundefined-germany-plants