Klinikum Peine municipal again: opportunities used successfully

The bankruptcy procedure at Peine Clinic is officially canceled less than a month after the hospital was remunicipalised. This was shared by the self-administration team of the law firm BBORS Kreuznacht (Münster) around the lawyers Dr. Frank Kreuznacht and Thore Voss and the trustee appointed by the court, Dr. Painted Köster from the law firm Willmer-Köster (Bremen).

After the hospital was taken over by the district and the city of Peine at the beginning of October 2020, the final formal steps in the insolvency proceedings have now been completed. The final list for the distribution of the managed fiduciary funds to the creditors in accordance with the insolvency plan is available, and the competent local court passed the resolution on October 31, 2020 to repeal the insolvency proceedings.

Malte Köster sums up the process as follows: “With the successful renovation under self-administration and the completed remunicipalisation, the Peine Clinic is a groundbreaking practical example for the renovation of hospitals and rehabilitation clinics.” and the challenges posed by the corona situation in financial difficulties. Health experts expected this trend to intensify in the coming months and years.

Klinikum Peine “economically stabilized”

“The path taken by the Peine Clinic is an example of how reorganization opportunities under insolvency law can be used successfully under the special conditions in the hospital sector,” explains Köster, “in this way, the clinic was able to be economically stabilized through self-administration after only seven months.

As a reminder: In March 2020, Klinikum Peine gGmbH filed an application to open insolvency proceedings in self-administration. After the insolvency plan became legally effective at the end of September 2020, the official takeover of the company shares in the clinic by the district and the city of Peine took place as planned on October 1, 2020. The cancellation of the insolvency proceedings now marks the end of the restructuring.

A new era begins for the Peine Clinic

The lawyer Kreuznacht explains: “With the remunicipalisation, the goal of preserving the clinic and securing future prospects was achieved. Now the insolvency proceedings are officially canceled. The Peine Clinic is leaving bankruptcy behind and a new era begins. The successful conclusion of the insolvency proceedings also shows that self-administration is a very effective instrument for restructuring, especially for hospitals and rehabilitation facilities with the special framework conditions in the medical sector. “

And in general, Kreuznacht points out: “It is already foreseeable today that the difficult situation in which numerous medical institutions are located throughout Germany will become even more severe in the coming years.”

“Klinikum Peine quickly put back on its feet”

Dr. Malte Köster: “After the insolvency proceedings have now been lifted, those responsible at the Peine Clinic can fully focus on the implementation of the medical concept. As trustee, the task still remains to distribute the generated trust funds to the creditors in accordance with the liquidity forecast. With the insolvency plan as the core of the restructuring, the self-administration team has impressively shown how medical facilities that are in financial difficulties can quickly be put back on a stable footing. “

For the municipal shareholders, take the district and town of Peine District Administrator Franz Einhaus and Mayor Klaus Saemann the trustee’s assessment with satisfaction. When asked by our newspaper, the district house and town hall responded with this coordinated declaration: “In view of the difficult and very complex initial situation, we are pleased that politicians and administrators have been certified by the administrator to have done a good job from a neutral and professional side. The fact that the phase of the insolvency proceedings has been officially lifted now enables us to concentrate on the Realignment of the Peine Clinic. They can now look after their patients without any worries. “

Background (each own information):

BBORS Kreuznacht Lawyers is a supraregional law firm specializing in legal and restructuring advice and insolvency administration with seven locations in North Rhine-Westphalia, Lower Saxony, Hesse and Thuringia. Lawyers, business graduates and business administrators work closely together on an interdisciplinary basis in order to successfully organize restructuring. This applies to both insolvency proceedings and out-of-court reorganizations and the preparation of restructuring insolvency proceedings. www.bbors-kreuznacht.de

The law firm Willmer-Köster is consistently specialized in insolvency administration. The independence of the law firm enables it to find solutions in the area of ​​tension between different interest groups in the sense of the entrusted insolvency proceedings and without mutual dependencies. The law firm has proven its expertise and performance as a highly specialized unit in numerous restructurings of companies of various sizes and in different industries. Overall, the law firm leads a team of around 100 employees in six offices in Lower Saxony, Bremen and Hamburg and is regularly commissioned by around 20 insolvency courts. www.willmerkoester.de

Peiner Klinikum celebrates takeover by the district and city

Time travel through the history of the Peine hospital

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