02-17-2016 / Press releases

Telamo acquires rights to music productions from 150 bankrupt artists

LEONHARDT RATTUNDE advises buyer on acquisition of 7days out of insolvency / Buyer underestimates complex rights situations and pitfalls in M&A processes in insolvency cases /

BERLIN, 17 FEBRUARY 2016. The Munich music marketer Telamo has acquired the rights to the music productions of around 150 national and international artists such as Andrea Berg, Roland Kaiser and Vicky Leandros. These rights were previously held by the insolvent 7days music entertainment AG. LEONHARDT RATTUNDE advised Telamo Musik & Unterhaltung GmbH on the complex rights situation in these insolvency proceedings. 


“Buyers often underestimate the challenges of the distressed M&A deal: Time pressure and usually the lack of a guarantee are normal when buying a business out of insolvency. The contract design is very different from a normal purchase. Expertise in both contract and insolvency law is required,” explained insolvency expert Prof. Dr. Torsten Martini of LEONHARDT RATTUNDE, who has advised Telamo together with his colleague and contract expert Dr. Peter Schulz since August 2014. 


In the Telamo case, the purchase of rights of use by a large number of artists and agencies proved complicated because of a number of outstanding legal issues. Numerous prominent bidders took part in the bidding competition. 7days, one of Germany's leading producers of folk and pop, filed for insolvency in April 2014. “Due to the complex rights situation in these proceedings, time-consuming coordination processes were necessary before we could realize the sale,” explained Dr. Michael Jaffé, insolvency administrator of 7days. 


“We are very happy to be able to add a few high-calibre artists such as Andrea Berg, Roland Kaiser, Vicky Leandros, Ireen Sheer, Lena Valaitis and David Hasselhoff to our portfolio by purchasing the rights. We are thus expanding our position as one of the leading labels for pop songs as well as traditional and innovative folk music,” says Telamo Managing Director Ken Otremba.


Insolvency administrator involved

in the proceedings:

Insolvency administrator Dr. Michael Jaffé, Munich

Consulting nuyer:

Lawyer/specialist lawyer for Insolvency Law Prof. Dr. Torsten Martini and lawyer Dr. Peter Schulz, MBA (Contract Law), LEONHARDT RATTUNDE, Berlin


Further information:

Lawyer/Specialist Lawyer for Insolvency Law Prof. Dr. Torsten Martini and Attorney Dr. Peter Schulz, MBA

LEONHARDT RATTUNDE

Kurfürstendamm 26 A, 10719

Berlin, Tel. 030-8859030, Fax: 030-885903100,

berlin_at_leonhardt-rattunde.de

www.leonhardt-rattunde.de


Dr. Jochen Mignat, Dr. Mignat PR,

Am Hexenpfad 11, 63450 Hanau,

Tel. 06181-50791-22,pr_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

Torsten Martini

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

Peter Schulz

Lawyer, MBA / Specialist lawyer for employment law / Partner

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