Investment Controversy Ends as Novalumen GmbH Faces Liquidation

The contentious insolvency of Deutsche Lichtmiete concludes with Novalumen GmbH, its successor company, being liquidated. This development is seen by investor representatives as the cessation of a self-enrichment scheme. The liquidation offers a chance for investors to benefit from the significant assets within the insolvency estate.

One Square Advisors, tasked with safeguarding bondholders' interests, controversially facilitated the transfer of Deutsche Lichtmiete's assets to Novalumen GmbH, a sister company. This transfer yielded no immediate financial gain for the insolvency estate, as payments were tied to conditions never met due to extensive invoicing by One Square Advisors.

Legal measures taken by the law firm Schirp Schmidt-Morsbach, including obtaining a prohibition from the Oldenburg Higher Regional Court in 2023, prevented unauthorized sales of investor-owned luminaires. Further actions ensured the securing of rents due to direct investors, culminating in significant concessions from insolvency administrator Rüdiger Weiß.

With the liquidation of Novalumen GmbH finally announced on May 28, investor representatives hope for a resolution that serves the creditors' interests better. They remain vigilant in securing the remaining assets for the creditors.