Insolvency plan confirmed – Noerr and Team Treuhand advise on restructuring of AEG Power Solutions GmbH
With the advice from Team Treuhand GmbH of the Noerr Group and from the commercial law firm Noerr LLP, the restructuring of AEG Power Solutions GmbH, the German subsidiary of 3W Power S.A., the holding company of the AEG Power Solutions Group, has made significant progress: the creditors’ meeting of AEG Power Solutions GmbH has unanimously approved the insolvency plan, and Arnsberg Local Court has confirmed the plan. Once this confirmation by the Court becomes non-appealable, debtor-in-possession management will be ended probably before the end of April.
The insolvency plan restructuring was conducted by Dr Thomas Hoffmann as the managing director of Team Treuhand, the joint representative of the corporate bond of 3W Power S.A., the largest creditor group. The restructuring expert and Noerr partner has represented the bondholders since the financial restructuring of the 3W Power Group began in May 2014.
During the insolvency plan restructuring, Team Treuhand has been advised by the commercial law firm Noerr. On the capital markets side, the Frankfurt-based partner Dr Laurenz Wieneke was in charge.
Representative of the bondholders: Team Treuhand GmbH, represented by its managing director, Dr Thomas Hoffmann (Restructuring, Frankfurt/Berlin)
Advisors to Team Treuhand: Noerr LLP
Dr Laurenz Wieneke, Dr Ivan Zlatanov (both Capital Markets), Dr Andrea Braun (Restructuring, all Frankfurt)