News

Message for all bondholders: 

Dear bondholder, 

Our news releases relating to our common representative mandates are only available in German and can be found on the German version of our website (http://www.onesquareadvisors.com/deutsch/news/aktuelles.php). If you require information on any of these situations, you can contact us on +49 89 15 98 98 0 or info@onesquareadvisors.com where we will be happy to assist you. 

Kind regards, 

Your One Square Advisors Team

2017 | 2016 | 2015 | 2014 | Archiv

14.12.2017 |

Air Berlin plc – Announcement by the Company that NIKI Luftfahrt GmbH filed a petition for the opening of insolvency proceedings, following the aborted acquisition of NIKI Luftfahrt GmbH by Deutsche Lufthansa Group 

Munich, 13. December 2017 –  Air Berlin plc ("Air Berlin" or the "Company") announced yesterday that NIKI Luftfahrt GmbH ("NIKI") has filed an application for the opening of insolvency proceedings following the failure of the sale to Deutsche Lufthansa Group and the unsuccessful search for another acquirer at short notice. The management of NIKI filed the application for the opening of insolvency proceedings at the Berlin-Charlottenburg district court and informed that initially no further flights will be carried out.


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13.12.2017 |

Air Berlin plc – Announcement by the Company that the planned acquisition of NIKI Luftfahrt GmbH by Deutsche Lufthansa Group has failed

 

Munich, 13. December 2017 – Air Berlin plc ("Air Berlin" or the "Company") announced today that the planned acquisition of NIKI Luftfahrt GmbH ("NIKI") by Deutsche Lufthansa Group has failed.


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02.11.2017 |

Air Berlin plc invites to bondholders meeting to vote for a common representative on 22. November 2017

  • The insolvent Air Berlin plc invites the bondholders of the EUR 225,000,000, 2011/2018, 8.250% bond (ISIN: DE000AB100B4 / WKN: AB100B) to vote for a common representative on 22. November 2017 in Berlin, at 10:00 am (admission from 8:30 am), Room MOA 6, Mercure Hotel Moa Berlin, Stephanstraße 42, 10559 Berlin.
  • The common representative represents all creditors of a bond in the insolvency proceedings pursuant to the German Bond Act (SchVG 2009) and pools interests and rights against the liquidator and other stakeholders
  • One Square is already supported by many bondholders and is calling for attendance at the meeting or representation, to vote a common representative of the EUR 225,000,000, 2011/2018, 8.,250% bond (ISIN: DE000AB100B4 / WKN: AB100B)

Munich, 2. November 2017 - The insolvency petition on the assets of Air Berlin plc, which have been pending since 15. August 2017 at the District Court of Berlin-Charlottenburg were opened on 1. November 2017. The previous provisional administrator attorney Prof. Dr. med. Lucas Flöther of Flöther & Wissing (Postbox 10 30 10, 18005 Rostock) was appointed administrator in the opened proceedings. Additionally, the general insolvency creditors’ meeting will take place on 25. January 2018 in Berlin. The self-administration remains in place.


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11.10.2017 |

One Square Advisory Services GmbH: Rickmers Holding AG (WKN: A1TNA3 / ISIN: DE000A1TNA39) – Report at the Report meeting and written comment of the custodian available for Bondholders

 

Munich, 11 October 2017 - The self-administration of Rickmers Holding AG provided the report at the creditors’ meeting on 10 October 2017. The custodian has also provided his written comment on the report. ‎


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02.10.2017 |

One Square continues expansion

One Square continues its expansion. Jochen Ihler will join One Square’s Frankfurt office and reinforce its German team as senior advisor.  Jochen Ihler is the most recent addition in its hiring spree after Nadja Schnabel (Frankfurt), Sam Macaulay (Munich), Richard Thomson and Carl-Gustav Beckmann (both London).


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11.09.2017 |

One Square Advisory Services GmbH: Rickmers Holding AG (WKN: A1TNA3 / ISIN: DE000A1TNA39) – Joint representative ensures the continued trading of the bond

 

Munich, September 11, 2017 - On June 09, 2017 Rickmers Holding AG announced, that it filed for the termination of the listing of the 2013/18 bond (WKN: A1TNA3 / ISIN: DE000A1TNA39) in Prime Standard on Frankfurt Stock Exchange. 


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16.08.2017 |

Laurèl GmbH: Suspense of trading of Laurèl bond to implement debt to equity swap

Munich, 16. August 2017 - The Frankfurt Stock Exchange has suspended the trading of the Laurèl bond (ISIN: DE000A1RE5T8) with effect of 15. August 2017. The suspense of trading came into effect after the period of appeal expired on 31 July 2017. Subsequently, the Insolvency Court confirmed to implement the insolvency plan.


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28.07.2017 |

SANHA GmbH & Co. KG: Substantial financial restructuring necessary, opinion of the issuer confirms the need for the countermotion of One Square

  • Sanha's restructuring concept does not meet the requirement for a profound financial restructuring
  • One Square's proposed measures in the countermotion are generally accepted and industry standard
  • Value of real estate collateral is not comprehensible
  • The objective is to establish a blocking majority with the aim to enter into a constructive dialogue with the issuer and formulating an appropriate restructuring concept

Munich, 28. August 2017 - The opinion of SANHA GmbH & Co. KG, dated July 24, and the company's written statement in regards to the queries of One Square confirm the need for the countermotion of One Square. The issuer has announced that the repayment of the Notes will not be made at original maturity, but the maturity to be postponed by 5 years. In addition, the issuer suggests  to reduce the coupon of 7.75% p.a., to be able to shoulder the capital service.


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02.06.2017 |

One Square Advisory Services GmbH: Rickmers Holding AG – One Square Advisory Services GmbH elected as joint representative for the bond 2013/18 (WKN: A1TNA3 / ISIN: DE000A1TNA39)

 

Munich, June 02, 2017 - On 1st June 2017, the second meeting of the bondholders of the bond, issued by Rickmers Holding AGs (WKN: A1TNA3 / ISIN: DE000A1TNA39), took place in Hamburg. The bondholders appointed One Square Advisory Services GmbH to represent them and to assume their rights and obligations in the insolvency proceeding of Rickmers Holding AG.


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31.03.2017 |

One Square Advisory Services GmbH: Steilmann SE – First status report available for bondholders

 

Munich, March 31, 2017 – The insolvency administrator of Steilmann SE submitted today the first status report on the insolvency proceedings of Steilmann SE to One Square Advisory Services GmbH in its capacity as joint representative for the bonds 2014/18 (WKN: A12UAE /ISIN: DE000A12UAE0) and 2015/17 (WKN: A14J4G /ISIN: DE000A14J4G3). ‎


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13.12.2017 |

One Square Advisory Services GmbH: Accounting irregularities put Steinhoff's bond prices heavily under pressure; Bondholders should bundle their interests in the near term

  • Accounting irregularities put Steinhoff in stressed situation
  • One Square already in conversations with involved parties and large institutional bondholders
  • Bondholders of the Steinhoff Group can register for free with One Square
  • Registered bondholders will be notified of new developments by One Square
  • Conference call for registered bondholders

Munich, 13. Dezember 2017 – Steinhoff International Holdings N.V., parent company of Steinhoff Europe AG, announced on 6. December 2017, following the announcement of the immediate resignation of CEO Markus Jooste, that certain accounting irregularities have emerged which require further investigations. 


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23.11.2017 |

Air Berlin plc – KEOS GbR elected as common representative for the EUR 225,000,000; 2011/2018; 8.250% bond (ISIN: DE000AB100B4 / WKN: AB100B)

 

Munich, 23. November 2017 – On 22. November 2017, the meeting of the bondholders of the bond, issued by Air Berlin plc (ISIN: DE000AB100B4 / WKN: AB100B), took place in Berlin. By resolution of the bondholders’ meeting on 22. November 2017 and a majority of 99.96% of the present votes, the bondholders elected KEOS GbR ("KEOS") as common representative to represent them and to assume their rights and obligations in the insolvency proceeding of Air Berlin plc. KEOS is a joint venture vehicle of K&E Treuhand GmbH and One Square Advisory Services GmbH.


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19.10.2017 |

G&P GmbH & Co. KG: SolarWorld AG (WKN: A1YCN1 / WKN: A1YDDX) – Publication of the insolvency administrator’s report to an online data room
 

Munich, 19 October 2017 - G&P GmbH & Co. KG and Alexander Elsmann, in their role as Joint Representatives of all bondholders for both SolarWorld AG bonds (ISIN DE000A1YCN14 / WKN A1YCN1 und ISIN DE000A1YDDX6/ WKNA1YDDX), have created in a virtual online data room for the purpose of making the insolvency administrator’s report, dated 11 October 2017, available to bondholders. Please note that the report is only available in German.


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06.10.2017 |

One Square Advisory Services GmbH: Rickmers Holding AG (WKN: A1TNA3 / ISIN: DE000A1TNA39) –claims arising from the bond filed with the administrator and conference call on 17 October 2017

 

München, 9 Oktober 2017

  • Claims arising from the bond filed with the administrator by the joint representative
  • Conference call subsequent to the creditors‘ meeting (10 October 2017) on 17 October 2017

The joint representative has filed the claims arising from the bond WKN: A1TNA3 / ISIN: DE000A1TNA39, consisting of the nominal value, interest due on 11 June 2017 and accrued interest since that date, with the administrator. Bondholders are not affected by the repeated notice from depot banks to file claims with the administrator. 


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18.09.2017 |

One Square Advisory Services GmbH: Rickmers Holding AG (WKN: A1TNA3 / ISIN: DE000A1TNA39) – creditors‘ meeting on 10 October  2017 and filing of bondholders‘ claims

 

Munich, 18 September 2017

  • The joint representative will exercise the bondholders‘ rights in the creditors‘ meeting on October 10, 2017
  • The joint representative will file the claims of all bondholders for repayment of capital and interest with the administrator

In the insolvency proceedings over the assets of Rickmers Holding AG, the local court of Hamburg has convened a creditors’ meeting on October 10, 2017 – 09:30 CET (Local Court of Hamburg, Sievekingplatz 1, 20355 Hamburg, I. Etage, Sitzungssaal Plenarsaal A 156).


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23.08.2017 |

SANHA GmbH & Co. KG: One Square files countermotion and invites to investors call on 1. September 2017

Munich, 23. August 2017 - Following the failure of the first vote without a meeting, due to a lack of presence, SANHA GmbH & Co. KG invites to a second bondholder meeting on 15. September 2017. The approval for the company's restructuring concept in the context of the vote without a meeting was according to the company's own statement, only 10% of the nominal amount of the bond.


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08.08.2017 |

Golden Gate GmbH i.I.: successful sale of the Bundeswehr hospital; Insolvency administrator announces a timely further payment to the bond creditors

Munich, 8. August 2017 – One Square Advisory Services GmbH, in its capacity as joint representative of the EUR 30.0 million bond (WKN: A1KQXX ISIN: DE000A1KQXX5), informs the bond holders about the successful sale of the Bundeswehr hospital in Leipzig and the subsequent payment to the bond creditors.


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09.06.2017 |

One Square Advisory Services GmbH: Rickmers Holding AG – Termination of listing of Rickmers bond 2013/18 (WKN: A1TNA3 / ISIN: DE000A1TNA39) in Prime Standard segment on Frankfurt Stock Exchange

Munich, June 09, 2017 - Rickmers Holding AG filed for termination of Rickmers bond's 2013/18 (WKN: A1TNA3 / ISIN: DE000A1TNA39) listing in Prime Standard on Frankfurt Stock Exchange.


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05.05.2017 |

 

Wolf Waschkuhn, Managing Director of One Square and head of the London office, was appointed co-chair of the Strategic Task Force 2025 of INSOL Europe. Together with Dr Steffen Koch of insolvency firm hww, he will lead the strategy development of INSOL Europe, Europe's biggest association of insolvency adminstrators and restructuring professionals.


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