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04. June 2018

Honsel bankruptcy: creditors receive 70 million

The insolvency proceedings of Mescheder auto supplier Honsel have been completed. After the last creditors' meeting on Tuesday (29.05.2018) in the Arnsberg district court, it is clear: the creditors will get slightly more than a quarter of their claims - around 70 million euros.

This sum is distributed to more than 3,800 creditors, according to insolvency administrator Frank Kebekus following the meeting at the district court. It lasted only 20 minutes, with little more than a handful of creditors present.

Creditors happy with the outcome
One of them was Franz-Josef Rickes from Meschede. His small locksmith lent the light metal specialist Honsel a six-figure sum. He will get back just 26 percent. "You can be satisfied with that," Rickes said.

"It was important for us, however, that the location is maintained and we can continue to operate as a supplier." True to the motto "roll up your sleeves and get through it", his company survived the Honsel insolvency, in part because his company was able to continue working with Honsel throughout the ordeal.

Bankruptcy took eight years
Eight years ago, Honsel AG filed for bankruptcy. Meanwhile, the light metal specialist belongs to the Canadian automotive supplier Martinrea. The plant in Soest was sold to an Austrian company three years ago.

Kebekus is also pleased with the end of the bankruptcy. He is especially pleased about the quota. "In a normal bankruptcy procedure, you usually get between three and six percent," said the insolvency administrator. "26 is good."

MartinreaHonsel claims to have 3,000 employees, about half of whom work at the plants in Meschede and Bestwig-Nuttlar.

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