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Advised Temporis Capital LLP regarding the insolvency of PowerWind and the purchase of wind power plants

  • Germany

    01-06-2012

    Heisse Kursawe Eversheds comprehensively advised the London-based investment company Temporis Capital LLP in the insolvency proceedings over the assets of PowerWind GmbH and regarding the purchase of several wind power plants. PowerWind GmbH is a leading manufacturer of wind power plants in Germany. Hamburg Local Court opened the insolvency proceedings over the assets of PowerWind GmbH on 01 July 2012 ordering a debtor-in-possession management and appointed the lawyer Dr. Sven-Holger Undritz insolvency monitor after the latter had been the provisional insolvency monitor since 24 April 2012. Hence, PowerWind was one of the first companies that made recourse to the possibility of a reorganisation under a debtor-in-possession management which was created by the German Act Serving the Further Facilitation of the Reorganization of Enterprises (ESUG) with effect from 01 March 2012.Dr. Sebastian Zeeck, LL.M. (Partner, insolvency law), Dr. Christian Hilpert, MBA (Senior Associate, insolvency law) and Arndt Kaubisch, LL.M. (Associate, insolvency law) provided comprehensive legal support to Temporis Capital LLP. Heisse Kursawe Eversheds' team specialising in insolvency law has extensive experience in advising investors, creditors and bodies on handling reorganisation and insolvency scenarios. For example, the team has recently supported the Swedish/US company Autoliv Inc. in insolvency proceedings and the reorganisation of Pampus Automotive GmbH & Co. KG.

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