Large Scale Central

LGB insolvency - the court's proclamation

General Discussion
#1

Hi all,

It took a bit longer …but

here is the translation of what the court issued

HJ translation said:
Public announcement

In the insolvency procedure concerning the property of

Ernst Paul Lehmann Patentwerk

represented by the personally liable partners Rolf Richter and Johannes Richter

Saganer Strasse 1 - 5
90475 Nürnberg

a decision was rendered on Sept. 18th 2006 at 14:00 which stipulates: any instructions by the debtor are only valid with the explicit agreement of the interim trustee.

The interim trustee is also empowered to collect the debtor’s accounts receivable, to apportion liquid assets, as well as to collect debtor’s moneys and hold them in trust.

Any foreclosure proceedings against the debtor are, as long as it doesn’t concern real estate, prohibited, respectively temporarily suspended. (specific exclusions provided in law are listed).

The appointed interim trustee is Dr. Steffen Goede, Peuntgasse 3, 90402 Nürnberg tel 0911/2 7980 - 0

Nürnberg, 18.09.2006
Administrative Court Nürnberg
-Insolvency court -


My only comment on this: Interesting that the court didn’t list EPL as Ernst Paul Lehmann Patentwerk OHG! But the LGB website uses the OHG.

I just read up on OHG (Offene Handelsgesellschaft) an interesting wrinkle is the unlimited personal liability of the partners.

#2

Thanks for the input.

Any estimate if this declaration points the way for PIKO to possibly obtain LGB – if in fact that is the name the bank recognizes as the controlling entity of both production capability and remaining product

Wendell

#3

Wendell,

Sorry, no estimates. :wink: :slight_smile: