The Gera Local Court has opened insolvency proceedings against the assets of the Greiz-based photovoltaic company Emotec GmbH. Marcello Di Stefano, a specialist lawyer for insolvency and reorganization law, was appointed as insolvency administrator. Despite a successful continuation of operations during the opening proceedings, in which claims for work wages in a considerable amount were secured for the assets, unfortunately no successor solution could be found, so that business operations had to be discontinued. "Unfortunately, in these times, the cases in which a reorganization is not possible are increasing. That's not nice, but you have to deal with it and remember the fundamental goal of insolvency proceedings: the best possible satisfaction of creditors. That is what we are also doing in the Emotec GmbH proceedings," says insolvency administrator Di Stefano.