Creditors to receive high recovery rate: PLUTA restructuring expert Dr Christian Kaufmann achieves solution for Diadema service company

Dr Christian Kaufmann from PLUTA Rechtsanwalts GmbH, the insolvency administrator for Diadema GmbH, has announced positive news for the service company of the Diakonie charitable organisation in the Oldenburg Land region. Creditors unanimously approved the insolvency plan at the discussion and voting meeting held on 5 July 2024.

The plan was confirmed by the court at the same meeting. This means that the proceedings can soon be concluded. Diadema GmbH provides services in various areas such as housekeeping, cleaning and catering. Some 160 people will work at Diadema GmbH in the future.

High recovery rate for creditors

The creditors will initially receive a 30% recovery rate. The plan also envisages what is known as a debtor warrant, that may even take the rate to an exceptionally high 57%. Insolvency recovery rates tend to be in the mid-single-digit range on average.

Dr Christian Kaufmann expressed his satisfaction with the outcome: “I am delighted that we can now soon conclude the insolvency proceedings. This outcome has been made possible by the constructive collaboration and tireless efforts of everyone involved. My sincere thanks go to all stakeholders for their patience and support throughout the entire proceedings.”

Insolvency administrator Dr Kaufmann is endeavouring to conclude the proceedings promptly so that the transfer can be as seamless as possible.

The Diakonie charitable organisation in the Oldenburg Land region offers numerous counselling, assistance and care services. Dr Christian Kaufmann was appointed insolvency administrator for Seniorenzentrum Haarentor gGmbH, Diakonisches Werk Oldenburg Ev. Seniorenzentrum to huus achtern Diek gGmbH in Blexen and Diadema GmbH after the companies filed for insolvency in January 2024. In early April 2024, the local court opened the insolvency proceedings and appointed Dr Christian Kaufmann from PLUTA as regular administrator. Following the successful solution for the Haarentor retirement home in March 2024, the specialist attorney recently achieved a solution for the retirement home in Blexen as well. Dr Kaufmann is being supported in the proceedings by PLUTA attorney Mr André Gildehaus and business lawyer Ms Nicole Neumerkel.