Navigating Seuffer Insolvency Through Labor Law Regulations
HEUSSEN renders its labor law services to insolvency administrator Dr. Tibor Braun during the sale of business operations of the insolvent Seuffer Group, consisting of Seuffer GmbH & Co. KG, Robert Seuffer GmbH & Co. KG and Seuffer CZ s.r.o. to investment management company Blantyre Capital Limited. The final acquirer is Advanced Sensor Technologies International (AST).
Axel J. Klasen, HEUSSEN Partner at the law firm’s Stuttgart office, rendered his full-range legal services throughout the insolvency proceedings and the entire transaction process. These included, amongst others, the preparations, negotiations and implementation of the balance of interests, social plans, transfer company, collective bargaining and individual dismissal protection lawsuits. Overall, his services have contributed to saving 300 jobs; that is, most of the jobs affected by the insolvency. The group furthermore retains its corporate headquarters in the German town of Calw.
The sale of its business operations concludes the corporate restructuring process of the Seuffer Group, which found itself facing insurmountable financial woes following an investment gone awry. Hired for the insolvency proceedings was insolvency administrator Dr. Tibor Braun of the law firm Illig Braun Kirschnek Rechtsanwälte. Dr. Michael Thiele and Dr. Nadine Ulrich of the firm Thiele & Associates Beratung und Beteiligungen AG furthermore offered their services during the resulting M&A process.
AST will continue producing high-quality sensors, controls and electronic components for commercial vehicles, passenger vehicles, household appliances and industrial electronics in Germany. Meanwhile, AST International, the new parent company, is already busy planning further expansion of the Group’s product portfolio on an international level. Headquartered in London, Blantyre Capital is an investment company specializing in restructuring companies with stable business models facing financial bottlenecks – a business concept built on sustainability, which, in this case, has once again proven successful.
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