Hi all,
Following is the original German text, then my translation of same and finally the English announcement from the LGB site.
LGB German text said:
Insolvenz bei ERNST PAUL LEHMANN PATENTWERKDas ERNST PAUL LEHMANN PATENTWERK (kurz: EPL) in Nürnberg, Hersteller der weltbekannten Lehmann-Gross-Bahn (LGB), zählt zu der traditionellen Nürnberger Spielzeugindustrie. Das Familienunternehmen feierte im Juli 2006 sein 125-jähriges Bestehen. Seit März 2005 befindet sich EPL in einer intensiven Restrukturierungsphase. Durch die anhaltende negative Umsatzentwicklung der Modellbahnbranche, mussten die bereits von den EPL-Eigentümern im Jahr 2002 begonnenen Maßnahmen zur Kostensenkung nochmals drastisch verstärkt werden. Auch die ca. 150 Mitarbeiter unterstützten den Restrukturierungsprozess durch die Erklärung eines schriftlichen Lohnverzichtes. Mit der engen Verbundenheit an den Standort Nürnberg und der hier gefertigten Qualität, wurde 2004 die Fertigung bei der EPL-Tochterfirma in Tschechien aufgegeben und nach Nürnberg zurückverlagert. Der Erhalt der Arbeitsplätze in Nürnberg hatte Vorrang. Trotz dieser positiven Faktoren wurden durch die Finanzierer am 01.09.2006 nicht nur die Konten von EPL gesperrt, sondern auch ein Verkauf der Sortimentsartikel untersagt. Die Umsatz- und Auftragsabwicklung für das Gesamt-Jahr 2006 liegt im Plan. Auch wurde die verlustträchtige amerikanische Tochtergesellschaft LGB of America an ein amerikanisches Unternehmen, mit umfangreichen Vereinbarungen zur langfristigen Weiterführung der operativen Partnerschaft, verkauft. Trotz der dadurch erheblich generierten Liquiditätszuflüsse blieben alle Bankkonten von EPL blockiert.
Der Druck der Banken auf die persönlich haftenden Eigentümer stieg stetig und wurde letztlich so immens, dass sich die Eigentümer entschlossen haben, mit dem heutigen Tag Insolvenzantrag zu stellen. Interessierten Kapitalgebern wird somit der Zugang zu EPL ermöglicht. Dadurch besteht nach Auffassung der Eigentümer die Möglichkeit, die Tradition des 125-jährigen, weltbekannten Familienunternehmens fortzusetzen und die Auslieferung der von den LGB-Kunden heiß erwarteten Neuheiten für das Weihnachtsgeschäft sicher zu stellen.
My translation
HJ's translation of above said:
Insolvency at Ernst Paul Lehmann PatentwerkThe Ernst Paul Lehmann Patentwerk (EPL) in Nürnberg, producer of the world renowned Lehmann-Gross-Bahn (LGB), is counted as one among the traditional Nürnberg toy industry. The family owned company was celebrating its 125th anniversary in July of 2006. Since March of 2005 EPL has been in intensive restructuring
mode. Due to the continuing negative market conditions in the model railroad sector, the measures started by the owners, as far back as 2002, to lower costs were once again drastically intensified.
The approx 150 employees lent their support to these restructuring measures by underwriting a salary forfeiture. The close identification with Nürnberg as production location and the associated quality, led to the closing of the EPL branch plant in the Czech republic and reintegration in Nürnberg. The preservation of jobs at Nürnberg took priority.
Despite these positive steps the financial backers froze all EPL accounts on Sept. 1st 2006 and instituted a sales embargo on the existing inventory. The turnover and orders on hand to this point were as projected for the 2006 business year. In addition was the sale of the American subsidiary LGB of America, a source of potential losses, to an American corporation along with comprehensive agreements regarding the longterm future cooperating partnership. Despite the substantial liquidity achieved through this all accounts of EPL remained frozen.The pressure of the financial institutions on the personally liable owners was on a steady increase and was finally so intense, that the owners decided, as of today, to apply for insolvency. Interested investors will thereby have ready access for an acquisition. This will, in the opinion of the owners, present the opportunity for a continuance of the 125 year tradition of the world renowned family owned company and delivery of the much
anticipated New Items in time for the Christmas season.
LGB English text said:
Ernst Paul Lehmann Patentwerk today announced that it was taking strong, immediate steps to prevent a hostile takeover of the family firm. Those steps include legal moves that should enable Lehmann to continue providing its quality products and services around the world.“We do not believe that a hostile takeover financed by international bankers is in the best interests of our employees, representatives, retailers and consumers,” said Rolf Richter, Managing General Partner of Ernst Paul Lehmann Patentwerk. “Lehmann has been operating profitably, despite the severe problems in the model train industry, and we believe our family atmosphere is a very important reason for our success.”
To preserve that family involvement, Lehmann has taken the legal step of asking the German courts for protection from its financing banks. “We feared that the largest of our financing banks, an international bank forced upon us after the dissolution of our local bank, sold its loans to Lehmann to a third party without our knowledge,” said Richter. Richter also emphasized that these moves will enable it to ship product and provide services during the crucial holiday sales season. “We are going to ship a large volume of popular standard items, like track, and exciting new items,” said Johannes Richter, Managing General Partner and production manager of Ernst Paul Lehmann Patentwerk.
Is it just me or are there others who think that this is a “BBB” job (Bulls… Baffles Brains)! For those who haven’t known up to now, comparing the German to the English version has been an interesting exercise for quite some time. There are always surprises.
Of course some think that is just HJ’s vindictiveness, actually it is inate curiosity. 
