In Prokon, the court ruled against implied deferral due to ambiguity, different treatment of interest and principal, contradictory changes in the history of the terms and conditions involved and the short-term character of the financing instrument (a six-month minimum term). In the event that an alleged agreement for the deferral of payments is based on general terms and conditions only, German law is particularly strict when it comes to interpreting clauses that include complex wording or are ambiguous. A deferral must be explicitly or implicitly agreed upon. In the Prokon insolvency, the court held that claims subordination does not necessarily entail a payment deferral. Subordinated claims which are deferred are not taken into account when determining whether a debtor is illiquid.
The Managing Directors of a German limited liability company must file for insolvency within a period of not more than three weeks once illiquidity has occurred. The question of whether or not a subordination clause in a participation rights offering includes a consent to deferral of payments is important for the liquidity test under German insolvency law. The court reasoned that, although the general terms and conditions of the participation rights offering included provisions subordinating the claims of the participation right holders, such a provision did not constitute an (implicit) agreement by the right holders to defer payment. On 1 May, the insolvency court ruled that Prokon was insolvent due to illiquidity and, thus, eligible for the proceedings. Prokon had received €1.4 billion from its issuance of various participation rights. Prokon petitioned for insolvency in January 2014 because it was unable to make a coupon payment for certain participation rights ( Genussrechte) it had issued to finance the development and operation of numerous wind farms. Germany-On, the insolvency court of Itzehoe opened insolvency proceedings with respect to PROKON Regenerative Energien GmbH ("Prokon").
#Prokon regenerative energien eg full#
Concrete designincludes sub-frame analysis and the designthereof as well as post-tensioned flat slabs,finite element slab design, any shapeĬolumn design as well as retaining wallsand punching shear.įor full details and strength of thedesign aid, interested parties can downloada free demo version from the developer'swebsite on or alternatelyfull demo will be supplied on demand.For the benefit of our clients and friends investing in European distressed opportunities, our European Network is sharing some current developments. The full range of steel connectiondesign is covered including haunch, apex,base plates, bolt group, weld group, cleat,fin and end plates. Programs covered in the packageinclude frame analysis whether it be planeor three dimensional (3D), grillage, spacetrusses, beam on elastic foundations,combined stress design, plastic frameanalysis, crane gantry and plate girderdesign. A user can build up aset of programs for a modest financialoutlay because of this. Package tailor-made for specificcircumstances.
The package consists of some50 programsall in modular formallowing one the opportunity to mix andmatch in order to obtain a streamlined The suite of programs is fullycomprehensive, because it covers the totalspectrum of design from superstructureto connections including thesubstructure. They arealso suitable for academic institutionswhere the user interface isextremely friendly and geared for the aver-age user.
#Prokon regenerative energien eg software#
PROKON Software Consultants, UK, spe-cialise in structural analysis and designsoftware as well as geotechnical software.They are useful to consulting civil andstructural engineers as well as contractorswho do their own design work. March 2001 * The Indian Concrete Journal 201
0 kommentar(er)
