China Owned Cartridge World Franchises Files For Bankruptcy In Germany

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Date: Tuesday September 5, 2017 12:52:53 pm
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    China-Owned Cartridge World Franchises, Files For Bankruptcy In Germany.
    Cartridge World Germany (CWD) recently filed for bankruptcy after more than twelve years of trading.

    Image result for Cartridge World Germany

    CWD was established in April 2005 and focused on the refill shop strategy.  In December 2011 CWD announced that ten new stores were to open in 2012.

    In 2015 the German franchise successfully launched a range of refurbished apple MacBooks Pro’s and MacBook Air’s, targeted at the student market.

    At its peak, CWD had over fifty stores across Germany, but several stores have left the franchise in recent years, and a further thirteen stores were due to renew their franchise agreements this year.

    At the time of publication, the CWD website is operational, and the stores are open and still trading. The company filed for bankruptcy on September 1st 2017.

    Cartridge World Germany GmbH, Insolvencies.
    Cartridge World Deutschland GmbH, Feldstraße 4, 44867 Bochum, registered in the register of the District Court of Bochum under HRB 13410, legally represented by the Managing Director Dr. Dr. Siegfried Koch, Heidkampsee 9, 30659 Hannover, Germany.

    (Google Tanslated From German To English)

    Insolvency proceedings will be opened today at 08:00 on 1 September 2017 due to insolvency.
    The opening is due to the debtor's application received at court on 26.06.2017.
    The insolvency administrator is appointed Rechtsanwalt Dr. Anja Commandeur, Goerdtstraße 30, 44803 Bochum.

    Claims by the insolvency creditors are to be registered with the insolvency administrator by 16.10.2017, subject to § 174 InsO.
    The creditors are requested to notify the insolvency administrator immediately which security rights they claim on movable property or on the rights of the debtor. The object to which the right to assert the security is claimed, the nature and reason for the safeguard right, and the secured claim shall be designated. Anyone who culpably neglects or delays these notices shall be liable for the resulting damage (§ 28 para. 2 InsO).
    Anyone who has obligations against the debtor is requested not to do so, but only to the insolvency administrator.
    A believer's gathering is not convened for the time being. The procedure is carried out in writing (§ 5 InsO).
    Date, which corresponds to the reporting and audit date (§ 29, 156, 176 InsO) the 24.11.2017
    up to this point, the creditor may submit written observations to the court
    • to the person of the insolvency administrator,
    • to set up, appoint and retain the creditors' committee (§ 68 InsO),and, where appropriate:
    • to decide on the effectiveness of the declaration of maturity on assets from independent activities (§ 35 para. 2 InsO),
    • for the interim accounting against the creditor's meeting (§ 66 para. 3 InsO),
    • the depository institution and the conditions for the investment and deposit of money, securities and valuables (§ 149 InsO),
    • to decide on the progress of the proceedings (§ 157 InsO),
    • on particularly important legal proceedings by the insolvency administrator (§ 160 InsO):
     the sale of the enterprise or the operation of the debtor,
     the sale of the warehouse as a whole,
     the sale of an immovable object from a free hand,
     the sale of a debtor's interest in another undertaking intended to establish a permanent relationship with that undertaking,
     the inclusion of a loan which would significantly burden the mass,
     the pending, commencement, settlement or avoidance of a dispute with a substantial amount of the dispute,
    • for the sale of assets to persons of special interest or disposal of assets (§§162, 163 InsO),
    • to apply for the order or the lifting of the arrangement of self-administration (§§ 271 and 272 InsO),
    • to pay maintenance from the insolvency estate (§§ 100, 101 InsO).
    Insofar as the insolvency administrator does not enter into a contradiction of a creditor with a court of law to a particularly important legal action (§ 160 InsO), the consent is granted (§ 160 para. 1 sentence 3 InsO).
    The table with the claims and the application documents as well as the report of the insolvency administrator will be published at the office of the District Court of Bochum, Viktoriastr. 14, 44787 Bochum, room no. A 37 has been laid down.
    A written objection, by which a party contests a claim, must reach the court no later than the court's examination date. It must be stated in contradiction whether the claim is contested according to its reason, its amount or its rank.
    The insolvency administrator is charged with carrying out the notifications to be made to the debtors of the debtor (third-party debtors) as well as to the creditors pursuant to § 30 para. 2 InsO (§ 8 para 3 InsO).

    Right to appeal:
    The debtor shall be entitled to appeal against this decision by means of an immediate appeal under appeal. Section 34 (2) of the Insolvency Act. The immediate appeal is to the District Court Bochum, Viktoriastr. 14, 44787 Bochum in writing in German or in the office of the office. The complaint may also be made out to the office of each magistrate.The immediate complaint must be received by the District Court Bochum within two weeks. This also applies if the complaint was submitted to the office of another branch of the court.The period begins with the promulgation of the decision or, if it is not announced, with its delivery. Proof of service is also subject to public notice. This shall be deemed to have been effected as soon as two additional days have elapsed after the date of publication under The earlier date is decisive for the commencement of the appeal period.The immediate complaint must contain the name of the contested decision and the statement that an immediate complaint against that decision is filed. It is to be justified.
    District Court Bochum, 01.09.2017.

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