Kaiser Odermatt & Partner - acting through its founding partner Patrik Odermatt - in cooperation with the German law firm EGO HUMRICH WYEN in Munich, advised the insolvency administrator of Econcern on the assertion of claims for damages against the bankrupt Ecostream Switzerland in the amount of EUR 450 million.
The Dutch Econcern was one of the largest global groups of companies in the field of renewable energies. She filed for bankruptcy in 2009. The Swiss subsidiary Ecostream Switzerland, a provider of solar systems, also had to file for bankruptcy in 2009.
Econcern's insolvency administrator asserted claims for damages against Ecostream Switzerland in the amount of EUR 450 million. The claims for damages were the subject of proceedings before the Cantonal Court of Zug. The procedure could be written off because Econcern's insolvency administrator was able to reach an agreement with almost all of Ecostream Switzerland's creditors. As a result, the vast majority of the bankruptcy assets are now flowing out of Econcern Ecostream Switzerland in the amount of EUR 17 million.