Halle (Saale) - As of 12 January 2022, the Local Court of Halle (Saale) has opened insolvency proceedings against the assets of Bavaria Kreuzbräu Bayreuth GmbH and appointed lawyer and specialist solicitor for insolvency law Thomas Reichelt from the law firm DiLigens as insolvency administrator.

The debtor is a property development company that was founded in 2015 and moved its registered office to Halle (Saale) in 2020. The debtor acted as general contractor, which used subcontractors for the construction and refurbishment of the property of the former malt house in Bayreuth. The debtor's customers are essentially the purchasers of the individual building objects.

A continuation of the debtor's company as a property developer cannot be considered in the opened insolvency proceedings, as the project for the construction of several high-quality residential units on the site of a former Bayreuth malt house has failed and is essentially the cause of the debtor's economic difficulties.

Insolvency administrator Thomas Reichelt is currently intensively examining the claims of the debtor and the possibilities of a viable solution for all parties involved to the many problems that have arisen in connection with the insolvency.