Canadian Biomass Magazine

German Pellets bankruptcy plan rejected

March 9, 2016
By Andrew Snook

March 9, 2016 - The bankruptcy protection plan recently filed by German Pellets (GP) has been rejected by a court in Germany, which has ruled in favour of a conventional bankruptcy instead, according to a recent article by Handelsblatt.

It states that the insolvency court in Schwerin in northern Germany turned down GP’s plan to self-manage the bankruptcy process, where company founder Peter Leibold would stay on as the head of the company with an insolvency administrator “monitoring progress in the talks with bondholders.”

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