SONOVTS has been saved and intends to start again with a new investor - Insolvency administrator Stefan Waldherr creates continuity solution for business operations within eight weeks

Dow Jones received a payment from EQS/DGAP to publish this press release.

DGAP-Media / 2019-02-18 / 15:10 
 
*Press release* 
 
*Lawyer Stefan Waldherr* 
*Insolvency Administrator of sonoVTS GmbH, Eching* 
 
*Happy ending for insolvent TV transmission specialist:* 
 
*SONOVTS has been saved and intends to start again with a new investor* 
 
*Insolvency administrator Stefan Waldherr creates continuity solution for 
business operations within eight weeks* 
 
Eching/Landshut, 15 February 2019. Just eight weeks after filing for 
insolvency, SONOVTS, an international specialist in transmission technology 
and equipping broadcasting studios for major events, has long-term prospects 
once again. "We managed to bring negotiations with a new investor to a 
successful conclusion as quickly as possible. As a result, all business 
operations can be continued at the current site and jobs can be preserved in 
Eching. We are also in a position to continue all customer orders and 
projects without interruption," said CEO Franz Olbert and insolvency 
administrator Stefan Waldherr of JAFF?? Rechtsanwälte Insolvenzverwalter 
(Lawyers and Insolvency Administrators) today. 
 
Having only just moved to its new premises in Eching in December, the 
company filed for insolvency in order to put the business on a new, 
commercially stable footing again. "We achieved it in record time. Business 
operations will move to the newly established SONOVTS Media GmbH, which is 
backed by a private investor. SONOVTS Media will also be taking on the 
employees and the ongoing projects," according to CEO Stefan Krömer. 
 
Together with insolvency administrator Stefan Waldherr, he also informed the 
employees on site of the latest developments. "It is the best possible 
solution, not only in the interest of the employees but also the creditors 
and customers," said lawyer Stefan Waldherr, explaining the situation to the 
employees. 
 
The medium-sized business manufactures transmission vehicles, as well as 
broadcasting and production systems, and also provides transmission 
equipment on hire for major sporting events. SONOVTS has a USP in its 
"HDQLINE Broadcast Displays". They meet every requirement of the 
technologies available on the market, in particular HDR preview and 
interfaces for the new IP technology. 
 
SONOVTS customers include radio and TV broadcasters and production companies 
from around the world, as well as organisations such as FIFA. The reference 
projects of SONOVTS include the FIFA World Cups in 2014 and 2018, as well as 
the Winter Olympics in Sochi (Russia) in 2014 and the Summer Olympics in Rio 
de Janeiro (Brazil) in 2016. 
 
SONOVTS 2013 was created by the merger of two previously independent 
companies. Most recently the company achieved an annual turnover amounting 
to EUR 28 million with just under 100 employees. 
 
"Thus, SONOVTS remains an internationally sought-after partner for 
transmissions of major sporting and political events. With the new investor 
we can now make a fresh start with renewed energy," said CEO Franz Olbert. 
 
*Further information* 
 
*Stefan Waldherr *is a lawyer specialising in insolvency law. He has worked 
as an insolvency administrator since 1992 and he heads the offices of JAFF?? 
Rechtsanwälte Insolvenzverwalter in Nuremberg and Landshut. He is regularly 
appointed as an insolvency administrator or trustee by a large number of 
insolvency courts throughout Bavaria. Recently he was significantly involved 
as a trustee in the successful financial recovery of Meiller GHP, the market 
leader in individualised customer communication and dialogue marketing in 
Europe. The district court of Landshut appointed him as the insolvency 
administrator for sonoVTS GmbH. 
 
*JAFF?? Rechtsanwälte Insolvenzverwalter *has been one of Germany's leading 
law firms in the areas of insolvency administration, insolvency law, and 
procedural law, in particular in complex and cross-border procedures, for 
more than two decades. 
 
*For more information please contact:* 
 
Media contact for the insolvency administrator: 
Sebastian Brunner 
tel.: [phone] 
 
email: [e-mail] 
 
End of Media Release 
 
Issuer: Sebastian Brunner Communications 
 
2019-02-18 Dissemination of a Press Release, transmitted by DGAP - a service 
of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
The DGAP Distribution Services include Regulatory Announcements, 
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Archive at www.dgap.de 
777045 2019-02-18 
 
 

(END) Dow Jones Newswires

February 18, 2019 09:10 ET (14:10 GMT)