Press Release

Lawyer, Dr Michael Jaffé
Insolvency administrator for P&R Container Vertriebs- and Verwaltungs-GmbH, Grünwald, P&R Gebrauchtcontainer Vertriebs- und Verwaltungs-GmbH, Grünwald, and P&R Transport-Container GmbH, Grünwald

Lawyer Dr Philip Heinke
Insolvency administrator for P&R Container Leasing GmbH, Grünwald

Already more than 30,000 claim registrations made for insolvent German P&R companies - positive response from investors

Insolvency administrators provide information in response to current questions

Munich, 23 August 2018. The forms for registering claims in the insolvency proceedings for the German P&R container management companies have all be sent. In the first two weeks of August more than 87,300 letters were sent to a total of around 54,000 investors. “So far we have received more than 30,000 claim registrations. This is a very strong response. We have also had positive feedback from many investors for the good design of the registration form, which matches their own calculations”, says Dr Michael Jaffé today, the insolvency administrator appointed by the District Court in Munich.

P&R investors have about four weeks in which to register their claims. The court set a deadline of the 14 September 2018 for this in accordance with the requirements of the insolvency code (Section 28 (1) InsO (Insolvenzordnung [Insolvency Code])). The other reason for this deadline was the fact that the registrations must be received and evaluated before the creditors’ meetings are held (report meetings). Given the volumes of data, this creates a great deal of work, so the insolvency administrators are grateful to investors for returning the registration forms as soon as possible.

The first report meetings are on 17 and 18 October 2018. The Olympiahalle in Munich has been booked for this in order to allow the largest possible number of interested investors and creditors to participate.