Insolvency Administrator Mirko Möllen sells the Tank Storage Facility belonging to Viktoriagruppe in Krailling

In spite of difficult conditions, insolvency administrator Mr Mirko Möllen from PLUTA Rechtsanwalts GmbH has succeeded in selling the tank storage facility belonging to Viktoriagruppe AG in Krailling. The buyer is the newly founded Krailling Oils Development GmbH based in Pullach. The parties have agreed to maintain confidentiality on the purchase price. The purchase contract includes a time-limited right to withdraw, thus enabling the insolvency administrator to achieve even better terms under certain circumstances.

The Local Court of Weilheim in Oberbayern had opened insolvency proceedings for the assets of the public limited company Viktoriagruppe AG at the beginning of February 2015 and appointed Mr Mirko Möllen as the insolvency administrator. Viktoriagruppe AG is the owner of a tank storage facility located between Krailling and Germering, where the company stores oil for the Czech government.

Krailling Oils Development GmbH has signed a contract obliging them to deliver the oil stored in Krailling to the Czech Republic. The buyer and the Czech Republic have agreed on the details of the transport. The insolvency administrator has not however relinquished all rights to the oil in storage. The issue regarding the ownership of the oil remains unresolved and is not affected by the transport of the oil to the Czech Republic.

Krailling Oils Development GmbH is owned by a Czech entrepreneur in the oil industry, who has already acquired the tank storage facility belonging to Viktoriagruppe AG in Chlumec in the Czech Republic from the insolvency administrator.

The insolvency administrator Mr Mirko Möllen explained, “The purchase contract concluded is a very good solution achieved under extremely difficult conditions and is an important step in the ongoing proceedings. Now the task is to implement the purchase contract by the time ownership is finally transferred to the buyer.”