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  Care

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  Berlin 2024

LIONCARE Wohnen und Pflege GmbH: Successful restructuring under self-administration

In June 2023, LIONCARE Wohnen und Pflege GmbH, a company that offers out-patient and partial in-patient care services in Brandenburg and Saxony-Anhalt, filed for insolvency under a self-administration arrangement. The competent local court, the Amtsgericht Potsdam, appointed BBL partner, Dr Florian Linkert, as provisional custodian before making him the permanent custodian effective from November 2023 onwards. Together with his team colleague, lawyer Olaf Hammer, Dr Florian Linkert assisted the company over a period of months within a volatile market environment, whilst constructively engaged in realigning the enterprise. The company’s economic difficulties were partly down to the effects of the COVID-19 pandemic, as well as rising prices and acute staff shortages, too.

Once the creditors of LIONCARE Wohnen und Pflege GmbH accepted the insolvency plan in February 2024, and the plan received legal approval, the procedure was concluded following roughly eight months of uninhibited continued business activities under a self-administration arrangement. The restructuring plan envisaged the acquisition of the business by a new owner, which transpired to be kenbi, a Berlin-based health-tech start-up, which possesses an innovative and holistic care eco-system with a technology-based approach.

The process secured more than 650 jobs, while ensuring the continued delivery of care provision to all operational locations. The lawyer, Dr Kristof Biehl, supported the board of management in all the legal decision-making during the self-administration phase. Centuros GmbH oversaw the M&A investor process, while assisting the company with all commercial matters.