Schmidt-Jortzig Petersen Penzlin

Comment: It is impossible to imagine the Hamburg market without this firm recommended for insolvency administration. SJPP is one of the central administrators in the crisis-stricken maritime sector, and proved this in impressive fashion for the European branch of Korean shipping company Hanjin, where it played the non-routine role of international coordinator as the main insolvency administrator under the European Insolvency Regulation. In challenging proceedings, Penzlin displayed his creativity in the sale of a biomass power plant in connection with the EEV insolvency, with an insolvency plan for the cancelation of land charges deployed in parallel to the standard insolvency. The advisory branch is developing slowly and in niches, e.g. on the interface with public procurement for transport companies.
Recommended: Dr. Dietmar Penzlin (“one of Germany’s best and most progressive insolvency administrators”, “has raised his profile”, competitors).
Practice: Insolvency administration in Hamburg and other north German courts; insolvency advice, e.g. to company directors and shareholders regarding liability and transactions. (1 partner, 3 associates)
Insolvency administration: ?? Hanjin Shipping Europe (European Insolvency Regulation main insolvency administrator, Hamburg); various one-ship companies of FHH fund (Pinneberg); EEV Bioenergie (Meppen), incl. insolvency plan for cancelation of land charges; Prokon, now insolvency plan monitoring (Itzehoe), incl. repayment of €130m financing. Trustee: Sieber Forming Solutions (Norderstedt).
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