12-16-2015 / Press releases

Completion of reorganisation proceedings imminent for A Company

– Despite complex international legal interdependencies, insolvency plan implemented swiftly –

Berlin, 16.12.2015 A Company Film Licensing International GmbH is relaunching. The internationally active trader of film licenses has successfully gone through the insolvency plan proceedings. The Berlin-based company is regarded as the leading film license trader in the Eastern European market. The insolvency plan enables the company to continue operations. The district court of Charlottenburg has now confirmed this.

The A Company is both licensee and licensor. It buys the films from US film producers and then grants licences for broadcasting to cinema operators and TV stations in Russia, Poland, the Czech Republic and other Eastern European countries. The Filmstock comprises over 400 films, including titles such as “The King´s Speech”, “Sin City”, “Shutter Island” and “Saw”.


Insolvency plan proceedings with a multinational dimension

“The licensing contractual mixture – a large number of the contracts are subject to foreign law – represented the greatest challenge in the reorganisation project,” explains Dr. Oliver Damerius of the nationwide law firm BBL Bernsau Brockdorff & Partner.


Together with the board of management of A Company, BBL had succeeded in maintaining the trust of licensors and licensees and thus preventing licenses from being terminated. Damerius and his team developed the insolvency plan inclose cooperation with the insolvency administrator Prof. Dr. Torsten Martini of LEONHARDT RATTUNDE. “Together we succeeded in drawing up the insolvency plan within a manageable period of time despite its enormous complexity and pre-negotiating it with the stakeholders Martini added: “The case makes it clear that this is possible, even if it is a difficult case involving cross-border contractual relations with contracting parties outside the European Insolvency Regulation.” An important factor for the success was also the close and trusting cooperation with the insolvency court.


Background

The fall of the Ukrainian government and the occupation of the Crimea led to a huge political crisis in 2014. When the TV market in Ukraine and Russia collapsed as a result, A Company got into financial difficulties. On 18 February 2015, the company filed for insolvency at the Charlottenburg Local Court. Attorney Prof. Dr. Torsten Martini of LEONHARDT RATTUNDE was appointed insolvency administrator. In consultation with him, BBL Bernsau Brockdorff & Partner drew up the insolvency plan for A Company.


Team BBL

Dr. Oliver Damerius (lead management)

Dr. Christoph Weber, (insolvency plan, licensing law)

Holger Gutezeit, specialist lawyer for commercial and corporate law (corporate law)


Team LEONHARDT RATTUNDE

Prof. Dr. Torsten Martini, specialist lawyer for insolvency law, insolvency administrator (lead management)

Jan-Patrick-Röcker, specialist lawyer for insolvency law (legal aspects)

Matthias Menten, LL.M., commercial lawyer (business aspects)

Jennifer Brenke, LL.B., lawyer, (international aspects)

BBL is a law firm specialising in insolvency law with distinct advisory and

administrative competence. She has extensive experience in complex insolvency

plan proceedings and has a strong

international focus thanks to her involvement in numerous cross-border cases. Around 50 lawyers work at 11 locations throughout

Germany and in London.

Further information: www.bbl-law.de


LEONHARDT RATTUNDE has specialised in reorganisation consulting and insolvency

administration for over 90 years. Today, more than 30 professionals from five locations throughout Germany offer their consulting services. Herlitz, Senator,

ProMarkt, Suhrkamp. With these milestones, we have set new standards in reorganisation proceedings.

Further information: www.leonhardt-rattunde.de


Contact person for the media

Dr. Constanze Baumgart, Guttmann Law Communications

Tel: 0221-35 96 405

Mail:cb_at_guttmann.legal


Micha Guttmann, Guttmann Law Communications

Tel: 0221-35 96 405

Mail:mg_at_guttmann.legal

LEONHARDT RATTUNDE is a leading law firm for insolvency law in Germany. In addition to insolvency administration, the firm also offers reorganisation consulting, litigation, contract law and notarial services in Berlin, Erfurt, Kiel and Cologne. The firm

Torsten Martini

Lawyer / Specialist lawyer in insolvency law / Insolvency administrator / Managing partner

Jan Patrick Röcker

Lawyer / Specialist lawyer in insolvency law / Insolvency administrator

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