Kaiser Odermatt & Partner – acting through its founding partner Patrik Odermatt – advised, in cooperation with the German law firm EGO HUMRICH WYEN in Munich, the insolvency administrator of Econcern on the assertion of claims for damages against the competing Ecostream Switzerland amounting to EUR 450 million.
The Dutch Econcern was one of the largest globally operating groups of companies in the field of renewable energies. It filed for insolvency in 2009. The Swiss subsidiary, Ecostream Switzerland, a provider of solar power systems, also had to file for bankruptcy in 2009.
The insolvency administrator of Econcern asserted assigned damage claims against Ecostream Switzerland in the amount of EUR 450 million. The case was litigated at the Cantonal Court of Zug and settled as the insolvency administrators of Econcern were able to reach an agreement with nearly all creditors of Ecostream Switzerland. As a result, Econcern will now receive by far the largest part of Ecostream Switzerland’s bankruptcy assets in the amount of EUR 17 million.