08-09-2016 / Press releases

Insolvent limousine service RocVin continues to operate – insolvency application withdrawn

The largest German limousine service with around 240 employees and the contract to perform driving services for the Bundestag / Investor wants to get on board and implement a new environmentally friendly transport concept /

BERLIN, 9 AUGUST 2016. The members of the Bundestag will continue to be driven by RocVin in the future. An investor wants to join the largest German limousine service with around 240 employees, which had filed for bankruptcy in July. That is why the company’s management withdrew the insolvency application today. Previously, the provisional insolvency administrator Prof. Rolf Rattunde and his team had held talks with parties involved in the proceedings, customers and clients in order to enable restructuring in the insolvency proceedings. 


RocVin’s 160 vehicles can keep driving. An investor who does not wish to be named wants to take over business shares and implement a new but already devised transport concept of environmentally friendly and service-oriented personal transportation. The invest has agreed to maintain payment of wages and payments to old creditors in order to fulfil an insolvency plan set up three years ago. “As of 1 September, RocVin will be able to operate profitably again from the board of management’s point of view. The company is well positioned overall and very competitive. In addition to experienced drivers, it offers a modern and environmentally friendly vehicle fleet as well as an efficient traffic concept,” explained Thomas Mohnke, former Chairman of the Advisory Board of RocVin Dienste GmbH, who is to take over as CEO in the future.


“I am relieved that a solution has been found to preserve the 240 jobs and the company. An insolvency application need not necessarily lead to the opening of insolvency proceedings. The application can be withdrawn, in particular if, as here, the time period of the provisional insolvency proceedings is successfully used for talks with restructuring and investors”, said the provisional insolvency administrator Prof. Rolf Rattunde of LEONHARDT RATTUNDE.


Since 1999, RocVin Dienste GmbH has taken over the driving service for members of parliament and senior administrative officials of the German Bundestag. With around 240 permanent employees and 160 vehicles, the company is the largest German chauffeur and limousine service. In addition to its main customer the Bundestag, RocVin also operates for the Federal Chancellery, the Office of the Federal President, numerous offices, trade associations such as BDI and BDA as well as companies. 


On 4 July, the company filed for insolvency at the Charlottenburg district court on the grounds of impending insolvency, as a previous creditor has declared a loan due. On 21 July, Prof. Rolf Rattunde was appointed provisional insolvency administrator. 


“Since a new investor has been found who will compensate for the business crisis with an investment, reorganisation is no longer necessary as part of insolvency proceedings," says Thomas Mohnke, the former Chairman of the Advisory Board, who is to take over the management of the company in the future. 


Further information:

Prof. Rolf Rattunde, LEONHARDT RATTUNDE, provisional insolvency administrator
Dr. Sven Kirchner, LEONHARDT RATTUNDE,

Kurfürstendamm 26 A, 10719 Berlin,

Tel. 030-8859030,berlin_at_leonhardt-rattunde.de

www.leonhardt-rattunde.de


Dr. Jochen Mignat, Dr. Mignat PR, Am Hexenpfad 11, 63450

Hanau, Tel. 06181-50791-22,j.mignat_at_mignat.de

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

Rolf Rattunde †

Lawyer / Specialist lawyer in tax law / Insolvency administrator / Notary registered in Berlin / Partner

Sven Kirchner

Lawyer / Specialist lawyer in insolvency law / Insolvency administrator

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