HOB GmbH & Co. KG enters insolvency under self-administration

An Innovative IT company from Cadolzburg re-establishes itself

Cadolzburg, November 20, 2018 - HOB GmbH & Co. KG from Cadolzburg near Fürth has set course for the future and now enters self-administration according to § 270a InsO (Insolvency Regulations). The Fürth District Court confirmed on October 23, 2018 that it had received the corresponding application. With this application, the two managing directors, Klaus Brandstätter and Zoran Adamovic, made the situation public. Insolvency consultant Thomas Planer (of Planer & Kollegen GmbH from Landsberg am Lech) will advise on this process. As the provisional Trustee, Dr. Zaremba of Schwartz Attorneys from Nuremberg has been appointed as the Insolvency administrator by the Fürth District Court.

Thomas Planer: "We are pleased that the District Court has approved our appraisal of the company and accepted the application for self-administration. Only in this way is it possible for a company that has been advised to default to completely rehabilitate?. Planer continues: "HOB GmbH & Co. KG is not only worth restructuring, but also rehabilitating - thanks especially to the fast and prescient actions of the management?. Critical to the self-administration process, in Mr. Planer’s opinion, is that the company has sought help at an early stage.

Especially important, from the viewpoint of the staff, customers and suppliers: the self-administration process sees the success of the company as the objective. The management itself remains in charge of the situation, no external insolvency administrator will take over. CEO Klaus Brandstätter: "HOB will remained focused on its established core competencies and products. No changes are expected for the profitable field of networking, in the area of software development there will be a streamlining of the product range. The customers and suppliers will continue to have HOB as a reliable and high-performance business partner. We also want to fully implement the self-administration process to make the company attractive for timely strategic partnerships and investors. I regret that these measures are necessary, but I welcome the fact that the high potential of the restructuring can now be implemented in the best possible way".


Good prospects from restructuring

The prospects that the company, with its two areas of activity: Software Development and Systems Vendor for Network Infrastructures, will successfully exit the period of self-administration are seen positively by Thomas Planner. The order books alone show that the future prospects of the company are very good: "Together, we will turn the entire company upside down, analyze processes and redefine them - and make HOB fit again for a secure future."


Background

HOB GmbH & Co. KG

With its software division, HOB has set itself the goal of developing the best and most secure remote access solutions. With its network division, HOB plans and implements secure, highly accessible network infrastructures for companies of all sizes. With almost 40 years of experience in the IT industry, HOB knows that IT security matters. Core competencies include server-based computing with the RDP protocol, SSL and IPsec VPN solutions, remote desktop services, cloud security, enterprise mobility and access to legacy systems. Furthermore, HOB solutions include security components that have been certified according to Common Criteria EAL 4+ by the BSI (Federal Office for Information Security) in accordance with the internationally recognized test criteria. From it’s headquarters in Cadolzburg, as well as a branch office in the USA, HOB markets its award-winning products worldwide.

www.hob.de
www.hob-networking.de

Self-administration according to § 270a InsO

Self-administration according to § 270a InsO is an instrument for restructuring and restructuring. It can be used when insolvency becomes unavoidable, but the company nevertheless has a concrete business continuity and perspective. Self-administration means that the debtor retains management and financial control over their company and thus remains in charge of the proceedings - unlike in conventional insolvency proceedings, in which the management submits the control to the insolvency administrator. In self-administration, the entrepreneur acts as the insolvency administrator. However, most entrepreneurs do not have the necessary know-how – this is where the restructuring and insolvency administrator comes into play. In close cooperation with the corporate management, the administrator goes to creditors, banks and partners to involve all parties and the insolvency court in the process. Professionalism, competence and transparency in implementation ensure trust – the most important pillar for a successful restructuring.

About HOB

HOB is a mid-sized company, developing innovative and multiply rewarded software solutions that are marketed worldwide. The core competencies of the successful company HOB, founded in 1964, comprise server-based computing, secure remote access, also for desktop or mobile devices, VoIP and virtualization. HOB products are deployed in small, mid-sized and large enterprises. Further, some HOB products are certified according to Common Criteria EAL 4+ by the German Federal Office for Information Security.

Contact

HOB GmbH & Co. KG
Sarah Becker
Marketing/Public Relations
sarah.becker@hob.de