M T ENERGIE

[MickMoor]

The German company responsible for a large number of AD installations in Germany and this country as well as the rest of Europe has gone into administration. Any comments? I am particularly interested because I was asked to quote for some work for an installation in Scotland. Should I bother, bearing in mind that administrators have a legal, (at least here) obligation to obtain the maximum value from the company, firstly by keeping it as a going concern. Please don't confuse administrators with receivers or liquidators. Am I correct?

 

[thesilentone]

As you may be aware the Company and it's German subsidiary are still functioning. What of the UK ?, who knows, it is down to the administrators to decide. It appears it really depends on the magnitude of the debts and whether it drags down the holding company. If this occurs it is unlikely to see the light of day, if not, you may see a new company.

See extract:

The business operations of the MT-Energie GmbH as well as the MT-bio-methane GmbH will continue. The wages and salaries of the MT are secured via the insolvency money employees, whose pre-financing is initiated. The provisional liquidator said this about 350 workers at the site of Zeven, at a staff meeting. The same applies to the MT-bio-methane GmbH also about 60 employees.

Extent to which the preliminary insolvency proceedings of MT energy and MT-bio-methane will have impact on MT capital GmbH, the German subsidiaries, CM – Vermögensverwaltung GmbH and MT-Energie-Beteiligungs-GmbH, the sales companies abroad, Böhm is currently audited by insolvency administrator.