Dii AG Disaster Interview with lawyer Jens Reime
Interviewer: Hello, Mr. Reime. The real estate industry is currently experiencing turbulent times, and Deutsche Invest Immobilien AG recently filed for bankruptcy. Can you tell us a little more about this?
Attorney Jens Reime: Yes, that is correct. Dii Deutsche Invest Immobilien AG has actually filed for insolvency with the Wiesbaden district court. This step will now be examined by the court in order to decide whether the requirements for standard insolvency proceedings are met.
Interviewer: What led to this development?
Attorney Jens Reime: The real estate industry is faced with a number of challenges. Dii AG cites rising construction costs, uncertainties in planning funding, high interest rates and a collapsing transaction market as reasons. These factors have combined to significantly increase costs and delay expected revenues.
Interviewer: And what about the fund companies affected?
Lawyer Jens Reime: There are reports that insolvency applications have been filed for other Dii Group subsidiaries. However, business operations will continue and the existing assets will continue to be looked after. The structure of the individual funds suggests that they will not initially be directly affected, but the exact impact depends on the economic situation of the respective subsidiaries and their projects.
Interviewer: What impact does this have on investors?
Lawyer Jens Reime: The Dii Group has offered investment opportunities for various investor groups. Due to the fund structures, the funds are unlikely to be directly affected initially. It remains to be seen how the situation will affect the individual projects and thus possibly the funds.
Interviewer: What are the next steps in this process?
Lawyer Jens Reime: We have to wait for the Wiesbaden district court’s decision on Dii AG’s insolvency application. This decision is expected shortly after Easter. It will then become clearer which other companies are affected and how this could affect the fund companies.
2024-03-30 19:23:54
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