Gut Pötenitz Agrargesellschaft mbH

Continued business operations during insolvency to secure leases

Agricultural bankruptcies are complex and can be very lengthy because many operations conclude long-term leases. If the shareholders do not come to an agreement and a planning procedure fails, the continuation of business operations via a management contract is a possible means for increasing assets.

Insolvency Administrator

Ulrich Rosenkranz

BRRS Office

Hamburg

Local Court

Hamburg

Proceedings

Standard Insolvency Proceedings

Key Facts

Agricultural operation of 600 hectares; processing and sales of agricultural products, ten employees

Result

Insolvency administrator continues business operations to increase assets

Period

Start: 2011

Initial Situation

Gut Pötenitz Agrargesellschaft mbH is a long-standing operation; the agricultural company was founded back in 1998. It produced, processed, and distributed agricultural products from a dairy farm (about 500 animals) and 600 hectares of leased land. Disagreements among the shareholders and unpaid taxes led to insolvency.

The Insolvency Proceedings

Insolvency administrator Ulrich Rosenkranz prepared a planning procedure, but its implementation proved to be impossible. The rift among the shareholders of Gut Pötenitz Agrargesellschaft mbH was irreparable. Nevertheless, the long-term leases are being fulfilled so that profits are generated from the cultivation of the agricultural areas.

Income is generated from the operation of the facility and added to the insolvency assets every year.

The Result

Insolvency administrator continues to manage the company to increase its assets. Currently no prospect of a conclusion because of ongoing leases and income.