As part of a discussion and vote, the creditors of Ortrander Eisenhütte GmbH today accepted the restructuring plan presented by the management at the responsible district court in Cottbus with an overwhelming majority. The plan, which was drawn up by the management with the support of the insolvency administrator, lawyer Olaf Seidel from the AndresPartner law firm, provides for an agreement with the creditors and for the traditional company to be continued in family hands. All existing jobs will be preserved.
"We are extremely pleased with the positive vote from our creditors," says restructuring expert Seidel, who has been leading Ortrander Eisenhütte together with managing director Bernd Williams-Boock for over a year through the difficult times. With the result of the vote, the cancellation of the procedure is expected in the first quarter of the new year.
Business has continued since filing for bankruptcy. Customers and suppliers stood by the company the entire time, as the proven quality and adherence to deadlines could be maintained. Last but not least, we would like to thank the more than 220 employees and around 60 temporary workers in Ortrand, who support the ironworks without restriction.
“We are still very satisfied with our business development. The order situation is good despite the current economic situation, which is characterized by pandemics ”, adds Seidel, the insolvency administrator. Ortrand is therefore urgently looking for around 20 new skilled workers to expand production. The company has now started a training initiative for this purpose.