German Solar Firm BSH Files for Insolvency as Indebtedness Grows

Bankruptcy

Germany-based solar technology company BSH (BSH Hausgeräte), has filed for insolvency proceedings at the Schweinfurt District Court due to over-indebtedness. The court ordered preliminary insolvency administration and appointed a provisional insolvency administrator. BSH’s business operations are continuing during the preliminary insolvency proceedings. The administrator and his team are assessing the company’s financial position and holding…

Identity verification: three directors fined in first cases

Bankruptcy

Three company directors have been fined in the first prosecutions brought by the Insolvency Service for failing to comply with Companies House identity verification requirements. Jill White and Marc Dillon, directors of White (Reading Properties) Limited, and Modinat Banjo, director of J Isogony Apparel Limited, were sentenced at City of London Magistrates’ Court yesterday. The…

Solar Installer BSH GmbH & Co. KG Files For Insolvency

Bankruptcy

BSH GmbH & Co. KG is the latest solar energy company in Germany to have filed for insolvency proceedings. The company, based in Bad Königshofen, filed the application with the Schweinfurt Local Court. The business will continue to operate while a restructuring solution is explored.  The court appointed lawyer Dr. Alexander Zarzitzky of Anchor Rechtsanwaltsgesellschaft mbH as the provisional insolvency administrator.  BSH cites over-indebtedness and ‘impending insolvency’, amid a ‘difficult’ general situation in the…

Directors warned to verify identities with Companies House following first Insolvency Service prosecutions

Bankruptcy

First court action for identity verification offences brought by the Insolvency Service Three directors fined after failing to comply with requirements Convictions serve as a warning to directors: verify your identity or risk prosecution Directors are being warned to verify their identities with Companies House or risk prosecution after the Insolvency Service secured its first…