Begbies Global Network wins biggest German insolvency

The newly-launched Begbies Global Network (BGN) has won its first major cross border insolvency appointment via BGN member Pluta Rechtanswälte GmbH, Munich-based insolvency specialists.

The newly-launched Begbies Global Network (BGN) has won its first major cross border insolvency appointment via BGN member Pluta Rechtanswälte GmbH, Munich-based insolvency specialists.

Martin Prager of Pluta has been appointed insolvency trustee of the German company within the BenQ Group, the high profile mobile communications group which sponsors Real Madrid football club.

BenQ Mobile recently announced its insolvency stating it had been precipitated by the withdrawal of financial support by parent company BenQ Corporation.

The business had previously been part of the industrial giant, Siemens, before it’s sale to the Taiwan-based BenQ Group.

Around 3,000 German jobs in Munich, Kamp-Lintfort and Bocholt in North-Rhine-Westphalia are affected. However, the insolvency is likely to also impact on BenQ Mobile’s sales and mobile equipment manufacturing subsidiaries throughout Europe, South America and the former Soviet Union.

BGN members in Hungary, Poland and France are assisting in dealing with various aspects of this complex case, which is the largest insolvency in Germany so far in 2006.


Nick Hood, Executive Chairman of BGN, said:

“From announcing the creation of the Begbies Global Network only a matter of weeks ago, we are naturally delighted to be working on our first major cross border assignment. With BenQ Mobile operations based on three continents, this is a large instruction. We believe it proves the need for a multi-disciplinary network whose members embrace a wide variety of professionals, including accountants, lawyers and trustees, turnaround and restructuring professionals.”

Enquiries to:

Nick Hood
Executive Chairman
Begbies Global Network

(Tel) +44 20 398 3800
(Cell) +44 7967 658 296


Martin Prager
Pluta Rechtanswälte GmbH

(Tel) +49 89 858 963 3
(E) martin.prager@pluta.net
(W) www.pluta.net