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Heisse Kursawe Eversheds advised Hannover Leasing Automotive GmbH regarding the preliminary debtor's protection for NextiraOne Deutschland GmbH

  • Germany

    01-08-2012

    Hannover Leasing Automotive GmbH once again relied on Heisse Kursawe Eversheds' expertise in insolvency law, this time regarding the insolvency proceedings over the assets of NextiraOne Deutschland GmbH, for whose approx. 800 employees Hannover Leasing Automotive manages the vehicle fleet and functions as fuel card service provider.NextiraOne Deutschland GmbH is one of the leading telephone, unified communications and cloud service providers in Germany. On 23 April 2012 NextiraOne Deutschland GmbH's management filed an application with Potsdam Local Court to independently reorganise the company in a so-called preliminary debtor's protection pursuant to Sec. 270b of the German Insolvency Statute (InsO). Christian Graf Brockdorff was appointed as preliminary insolvency monitor and later insolvency monitor.The possibility of the preliminary debtor's protection was introduced within the framework of the German Act Serving the Further Facilitation of the Reorganization of Enterprises (ESUG), which came into force on 01 March 2012. The proceedings were therefore one of the first large-scale proceedings in which the possibility of the newly-established preliminary debtor's protection with a subsequent debtor-in-possession management came to be applied. After the creditors' meeting of 17 July 2012 approved the insolvency plan with a majority of nearly 98%, the reorganisation could be successfully completed and the insolvency proceedings suspended.Dr. Sebastian Zeeck, LL.M. (Partner, insolvency law) and Dr. Christian Hilpert, MBA (Senior Associate, insolvency law), who was largely in charge, provided comprehensive legal support in the reorganisation of Hannover Automotive GmbH.The team of Dr. Sebastian Zeeck, LL.M. has already advised Hannover Leasing Automotive GmbH in numerous reorganisation and insolvency scenarios. Most recently in the proceedings of Arcandor Group, for which Hannover Leasing Automotive GmbH also managed a considerable part of the vehicle fleet.

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