Kosche Filed an Application for The Opening of Self-Managed Insolvency Proceedings

Kosche, a German producer of profile-wrapped mouldings and panels and wood-plastic composites (WPC), filed an application for the opening of self-managed insolvency proceedings. The Court approved this application and ordered preliminary self-administration. Lawyer Dr. Joerg Bornheimer was appointed as preliminary administrator. At the same time, a preliminary creditors committee was formed. A reorganisation strategy put forward by the company is to be implemented through the insolvency plan. The Düsseldorf law firm and consultant Buchalik-Brömmekamp has been advising Kosche about legal matters since the start of January. On 11 January, Jürgen Börner, also from Buchalik-Brömmekamp, joined Kosche’s management team as chief restructuring officer (CRO) alongside former sole managing director Gerhard Kosche. Buchalik-Brömmekamp said that Kosche is to exit insolvency proceedings by the end of 2013.