25 November 2009
25 November 2009 - The German lawyer Dr. Marco Wilhelm, a partner with Mayer Brown LLP, will be representing the interests of the key suppliers and service providers in the Arcandor AG’s, Karstadt Warenhaus GmbH’s and Quelle GmbH’s creditors’ committees in the future. Last week, the creditors’ meetings of the insolvent companies voted him into the eleven and twelve head committees. Prior to that, the representative of Commerzbank AG resigned from the preliminary committees, as that bank’s claims are largely satisfied.
Marco Wilhelm’s nomination is the logical consequence of the increasing importance of suppliers and service providers for the insolvency proceedings and the operative companies’ business. Without the suppliers’ and service providers’ cooperation it will be impossible for the insolvent companies to remain operative during the insolvency proceedings and for an investor to later continue their business, or, as is the case with the Quelle GmbH, to be liquidated.
Furthermore, the representative of the federal state of North Rhine-Westphalia who had already been a member of Arcandor AG’s creditors’ committee was also voted into the creditors’ committees of Karstadt Warenhaus GmbH and Quelle GmbH. Additionally, Uwe Brinks (member of the group executive management of Deutsche Post AG) was appointed member of Quelle GmbH’s creditors’ committee.
For further information, contact:
Director Marketing & Business Development
T: +49 69 7941 1045
M: +49 160 9019 2756
Dr. Marco Wilhelm
T: +49 69 7941 2731