Negotiations with Faroe fishing company successfully completed
Kiel, 6th February 2015 – A few days after the opening of insolvency proceedings over the assets of the Larsen Danish Seafood Group (Case No .: 56 IN 294/14) by the District Court Flensburg on February 1st 2015 Wilhelm Salim Khan Durani for Cornelius + Krage, the law firm acting as insolvency administrator in Germany, announced the successful conclusion of sales negotiations. Together with his Danish colleague Finn Lynge Jepsen he could sell the two German companies Larsen Danish Seafood GmbH and the Larsen Danish Seafood (Leegina) GmbH as well as the trademark Larsen, registered in Denmark, to the fishing company Christian i Grótinum from the Faroe Islands. “The sites in Harrislee and Bremerhaven will remain and the majority of the over 300 jobs will be untouched,” says Wilhelm Salim Khan Durani. “We are pleased to have found a forward-focused solution with a partner to whom Larsen is an ideal addition to the portfolio.” The negotiations were supported by Frankfurt based Distressed M&A specialist Rödl Consulting.
Larsen Seafood – Danish Fish-Tradition
Larsen Seafood was founded as a fish trade company in Frederikshavn (Northern Jutland, Denmark) back in 1899. Today Larsen Seafood employs more than 300 people in Denmark as well as in Germany, where the two production facilities are located. Larsen Seafood processes process fish from Nordic waters, such as mackerel, herring and salmon as well as exotic species like tuna, hake and sea bass. The products are exported to most of Europe and more than 50 countries around the globe.
Legal Advice and Insolvency Administration
The partnership Cornelius + Krage, established by Dr. Claus Cornelius, Dr. Carsten Krage und Wilhelm Salim Khan Durani in 2001, today advises national and international clients in all fields of commercial and corporate law as well as insolvency law. The partnership’s consultancy services especially focus on the establishment, acquisition and sale of enterprises (M&A) as well as their transformation, restructuring and reorganization.
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