Opportunity for a fundamental economic restart used – scope for action for the professional department and for the association noticeably expanded – creditors ‘meeting confirms self-administration, administrator and creditors’ committee
The creditors of 1. FC Kaiserslautern GmbH & Co. KGaA (FCK KGaA) approved the insolvency plan presented by the self-administering management with the support of the trustee at a meeting of the Kaiserslautern District Court under the direction of Judge Waltenberger. After this vote, the process can now be completed within a few weeks.
The lawyer specializing in restructuring and reorganization, Dr. Frank Schäffler from the Menold Bezler law firm drafted the insolvency plan together with the management of 1. FC Kaiserslautern. The creditors present in the Fritz Walter Stadium agreed to this.
“I would like to thank everyone involved in this process for the critical and constructive discussions and the respective renovation contributions. As announced, we took this step, which is difficult for FCK but without any alternative, and see it as a great opportunity for a successful future for 1. FC Kaiserslautern. The acceptance of the insolvency plan therefore makes it much easier for us, ”explains the managing director of FCK KGaA, Soeren Oliver Voigt.
The chairman of the advisory board of 1. FC Kaiserslautern Management GmbH, Dr. Markus Merk, thanks the administration, the creditors’ committee, the insolvency court and the management for their commitment: “Despite some imponderables, you all worked closely and constructively on the restructuring solution and the specific design of the insolvency plan. That is why we can end the process shortly, start again and, together with our investors from Saar-Pfalz-Invest GmbH, concentrate on the short, medium and long-term goals of the FCK. ”
Creditors ‘meeting confirms self-administration, trustee and creditors’ committee
The meeting of the insolvency creditors confirmed the self-administration, the administrator and the members of the creditors’ committee during the meeting of the Kaiserslautern District Court.
“Today the creditors have made an important contribution to ensuring that the history of the FCK can be continued,” commented the trustee Dr. Andreas Kleinschmidt from the law firm “White & Case LLP” attended the meeting of creditors. “In a joint effort, we succeeded by means of a sensible balance of interests to secure jobs and the future at Betzenberg in the interests of creditors, supporters and the entire region”.
“We are very pleased that we were able to hold very constructive discussions with the big creditors in such a short time and we would like to thank all those who have worked to bring this very special procedure to a good and successful end,” explains Dirk Eichelbaum, General Representative of FCK KGaA.
Press release FCK
Further links on the topic:
– Chronology in the DBB forum: FCK opens insolvency proceedings under self-administration