Husband of Barbara Meier, Klemens Hallmann, has initiated bankruptcy proceedings.
In a recent development, German entrepreneur Klemens Hallmann and his corporate group, Hallmann Corporate Group, are navigating through financial difficulties. The central company within the group, Hallmann Holding International Investment GmbH, remains unaffected by the insolvency.
Klemens Hallmann, the owner and manager of the Hallmann Corporate Group, has been married to "Germany's next Topmodel" winner Barbara Meier since 2019, and they have two daughters together. The group is primarily active in the real estate and real estate development sector, with significant operations in these industries.
However, a subsidiary of Hallmann's, SUBA AG, filed for insolvency in April of this year. The insolvency proceedings were concluded at the end of July, with the acceptance of a restructuring plan amounting to 20 percent, payable within two years.
The insolvency affects a total of 102 creditors with claims amounting to around 95 million euros. Approximately 75 million euros of these claims are contingent liabilities in the form of guarantees that Hallmann had assumed for other companies.
Klemens Hallmann has applied for the opening of an insolvency proceeding with self-administration, citing the tense situation on the real estate market as the main reason for the payment default. In an attempt to resolve the situation, Hallmann offers insolvency creditors a 30 percent quota for the full satisfaction of their claims, payable within two years of accepting the restructuring plan.
Despite these efforts, the failure to reach an agreement with an important creditor was decisive for the breakdown of the negotiations for Hallmann's insolvency. Hallmann remains hopeful and intends to continue his business.
The Alpine Creditors' Association announced the insolvency proceeding. Klemens Hallmann, the driving force behind the Hallmann Corporate Group and Hallmann Holding International Investment GmbH, continues to face challenges in the current market conditions.
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