Biogas facility files for insolvency - report

Jun 26, 2013 - German biogas facility operator Tieraerzte Roettingen Management AG filed for insolvency, local news platform Br.de reported yesterday.

The operator owes at least EUR 100,000 (USD 130,461) to farmers for the supply with maize and forage.

A preliminary insolvency administrator has already been appointed and he told Br.de that the facility will continue to operate thanks to the cash inflow from electricity generation.

However, the receiver does not expect the insolvency proceedings to be opened before the end of July as first the reasons for the bankruptcy application should be investigated.

Tieraerzte Roettingen Management AG's owner Dieter Prehn, who also has a veterinary practice and 700 calves near the biogas facility, blames the city of Roettingen for his firm's insolvency. He claims the city did not pay out feed-in compensations for two months.

Roettingen's mayor Martin Umscheid counters that the company had unsettled electricity bills since 2009 and the city had to cover these bills with the compensations.

(EUR 1 = USD 1.305)

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