Sale of receivables from insolvent P&R to Durhaft Invest

Creditors of the insolvent P&R Group can sell their established claims to Permanhaft Invest P and R Sárl from Luxembourg.

Why is?

Durhaft Invest is a subsidiary of the investment company York Capital, an asset manager from the USA, and offers investors in the insolvent P&R Group the option of buying off their established claims.

Durhaft Invest is offering 16% of the comparative amount that the insolvency administrator proposed in his letter (end of April 2019 or after) as the purchase price for the insolvency claims.

In addition, Dauer Invest assumes the risk of contestation for rent payments on the contracts sold, ie that the insolvency administrator will demand repayment of rent payments on these contracts from you.

For many P&R investors, it can therefore make economic sense to sell their receivables to Durhaft Invest.

Why?

Every insolvency procedure, including that of the P&R Group, takes a lot of time. Many investors cannot and do not want to wait for the outcome of the insolvency proceedings. A sale to Durhaft Invest offers the opportunity to get your money quickly and securely. The investor does not have to wait until the end of the bankruptcy proceedings. In addition, there is still the possibility that the insolvency administrator will claim back the rental payments already made.

It is uncertain when and in what amount the down payments to the insolvency creditors will take place. Usually only partial payments are made over several years.

Permanently Invest also sees other risks:

  • Uncertainty regarding the stability of Swiss society and the unclear ownership of Swiss society,
  • the uncertain development of the global container market, among other things due to the current pandemic as well as the steel price and exchange rates, which will have a significant impact on the outcome of the proceedings,
  • Unclearness regarding the distribution of the revenues to the different P&R companies and the allocation of revenues to the respective P&R companies,
  • no possibility of reliably predicting the duration of the insolvency proceedings and the timing of the distributions to the creditors,
  • Uncertainty regarding the amount of the costs for the insolvency proceedings, i.e. for the court, the creditors’ committee and the insolvency administrators and their advisors,
  • Reclaiming rental payments that investors have already received on the receivables sold.

The Hamburg law firm Dr. Rolf Rechtsanwälte is happy to answer any questions you may have about insolvency proceedings and the sale of the receivable to Durhaft Invest. A corresponding sales contract can be processed through us. The contact person for this in the law firm is Dr. Thomas Rolf.

Contact: 0177 280 2130 / thomas.rolf@hrh-legal.de

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