Berlin, 14 Aug. 2017. Auctionata’s insolvency administrator, Christian Graf Brockdorff from the law firm BBL Bernsau Brockdorff Insolvenz- und Zwangsverwalter GbR, one of Germany’s leading specialists in restructuring and insolvency, has concluded negotiations for the purchase of Auctionata AG’s proprietary wares. Under the agreement, the online auction house’s proprietary wares will be sold to the Vienna-based Amadeus-Auktionhaus GmbH. The agreement is a further positive step towards the complete winding-up of the company, said Brockdorff.
He added that Auctionata’s proprietary wares should not be confused with so-called goods on commission. The latter, he explained, are works of art delivered to Auctionata by third parties for auction, and they remain the property of the consigners.
Prior to this, the following agreements had been reached with experienced partners:
Rights to the use of Auctionata’s name and its internet rights were transferred to the Berlin auction house, Historia. Thus, consignors have the option of commissioning Historia to auction their goods rather than taking them back. Inter alia, Historia’s offer includes collecting the goods from Auctionata’s warehouse and taking them over free of charge.
Auctionata’s auction software has been taken over by the firm German Startups Group Berlin GmbH und Co. KGaA.
Auctionata’s business and office equipment has been sold to the Warsaw-based Polish auction house, Desa Unicum, so that Auctionata’s business premises could largely be returned to the lessor in late May.
“Proceeds arising from these agreements will initially be paid into an escrow account”, said /en/lawyers/christian-graf-brockdorff-llm/Brockdorff, who welcomes the progress made in the insolvency proceedings initiated on 01 Mar. 2017. However, the experienced insolvency administrator added that the process has not been easy since it was first necessary to gain an overview over the proprietary works of art and those held on commission. Auctionata gave up the operations of the German parent company in late February after the interim insolvency proceedings, since it was unable to find an investor to continue operations.
BBL is a law firm specialising in insolvency law with strong advisory and administrative expertise. Another special expertise is the receivership of real estate. BBL has extensive experience in complex insolvency plan proceedings and has a strong international focus due to numerous cross-border cases. Around 50 lawyers work at more than 30 locations, mainly in important business and financial centres.
Further information: www.bbl-law.de
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