{"id":1493,"date":"2018-06-20T10:47:00","date_gmt":"2018-06-20T08:47:00","guid":{"rendered":"https:\/\/renzenbrink-partner.de\/deals\/renzenbrink-partner-advises-various-closed-end-investment-funds-on-the-agreement-of-an-insolvency-plan-for-woelbern-invest-b-v\/"},"modified":"2025-01-23T10:53:54","modified_gmt":"2025-01-23T09:53:54","slug":"renzenbrink-partner-advises-various-closed-end-investment-funds-on-the-agreement-of-an-insolvency-plan-for-woelbern-invest-b-v","status":"publish","type":"deals","link":"https:\/\/renzenbrink-partner.de\/en\/deals\/renzenbrink-partner-advises-various-closed-end-investment-funds-on-the-agreement-of-an-insolvency-plan-for-woelbern-invest-b-v\/","title":{"rendered":"Renzenbrink &amp; Partner advises various closed-end investment funds on the agreement of an insolvency plan for W\u00f6lbern Invest B.V."},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">More than 25 former W\u00f6lbern funds, which are now managed by Paribus Capital, have agreed on an insolvency plan with the insolvency administrator of W\u00f6lbern Invest B.V., Dr. Tjark Thies of Reimers Rechtsanw\u00e4lte, after four and a half years of insolvency proceedings.<\/p>\n\n<p class=\"wp-block-paragraph\">The insolvency administrator had asserted avoidance claims against the fund companies due to earlier repayments to the funds in the period before W\u00f6lbern Invest B.V. filed for insolvency in the amount of around EUR 110 million. Conversely, the fund companies were the main creditors in the insolvency proceedings. <\/p>\n\n<p class=\"wp-block-paragraph\">The W\u00f6lbern scandal has caused considerable controversy since it emerged in 2013. W\u00f6lbern Invest B.V. had issued bonds worth several hundred million euros as part of a controversial &#8220;liquidity management system&#8221;, which were then subscribed to by the former W\u00f6lbern funds. The proceeds were passed on to other companies in the W\u00f6lbern Group.  <\/p>\n\n<p class=\"wp-block-paragraph\">The insolvency plan now regulates all claims arising from the disputed payments.<\/p>\n\n<p class=\"wp-block-paragraph\">Paribus Capital, which has been managing the former W\u00f6lbern funds since 2014, has already mandated Renzenbrink &amp; Partner on several occasions. In this matter, Renzenbrink &amp; Partner advised the funds on the structuring and all legal aspects of the insolvency plan. <\/p>\n\n<p class=\"wp-block-paragraph\">The Renzenbrink &amp; Partner team consisted of <a href=\"https:\/\/renzenbrink-partner.de\/en\/team\/dr-ulf-renzenbrink-ll-m\/\">Dr. Ulf Renzenbrink<\/a>, <a href=\"https:\/\/renzenbrink-partner.de\/en\/team\/dr-andreas-stoll-ll-m\/\">Dr. Andreas Stoll<\/a> (both Corporate \/ Restructuring), Dr. Gunnar L. Schm\u00fcser (Finance) and <a href=\"https:\/\/renzenbrink-partner.de\/en\/team\/marc-holger-kotyrba\/\">Marc H. Kotyrba<\/a> (Tax).<\/p>\n\n<figure class=\"wp-block-embed\"><div class=\"wp-block-embed__wrapper\">\nhttps:\/\/www.juve.de\/nachrichten\/insolvenzen\/2018\/06\/woelbern-invest-renzenbrink-undreimer-erzielen-ausgleich-per-insolvenzplan\n<\/div><\/figure>\n","protected":false},"featured_media":987,"template":"","class_list":["post-1493","deals","type-deals","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Renzenbrink &amp; Partner advises various closed-end investment funds on the agreement of an insolvency plan for W\u00f6lbern Invest B.V. - Renzenbrink &amp; Partner<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/renzenbrink-partner.de\/en\/deals\/renzenbrink-partner-advises-various-closed-end-investment-funds-on-the-agreement-of-an-insolvency-plan-for-woelbern-invest-b-v\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Renzenbrink &amp; Partner advises various closed-end investment funds on the agreement of an insolvency plan for W\u00f6lbern Invest B.V. - Renzenbrink &amp; Partner\" \/>\n<meta property=\"og:description\" content=\"More than 25 former W\u00f6lbern funds, which are now managed by Paribus Capital, have agreed on an insolvency plan with the insolvency administrator of W\u00f6lbern Invest B.V., Dr. Tjark Thies of Reimers Rechtsanw\u00e4lte, after four and a half years of insolvency proceedings. 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