AMTEC GmbH, Hohenwestedt/Germany, is a global leader in providing high precision injection mould products for the manufacturing industry. The company was founded in 1956 as part of the LEGO® company. Due to a delay in payment of two major accounts receivables, the company got into financial distress and had to file for insolvency in September 2012.
BELGRAVIA & CO. exclusively advised AMTEC’s insolvency administrator, Mr. Hendrik Gittermann, Partner of Hamburg/Germany-based law firm REIMER RECHTSANWÄLTE, on the restructuring of AMTEC and the sale of assets to a group of investors consisting of Apriori Beteiligungen GmbH (Hamburg), AMTEC’s CEO and further private investors.
Based upon the close co-operation esp. with the principal customers, the insolvency administrator and BELGRAVIA & CO. were able to negotiate an attractive solution for AMTEC and its employees. It ensures the continuation of the operations in Hohenwestedt, saving some 50 jobs.