Almost no Gladbach council meeting in the past few years when the topic of pikeperch was not on the agenda. The newly elected Gladbach Council continues this tradition today. It is still about the lease agreement between the city as the property owner and the paper mill. The facts have changed significantly in the past few days.
The starting point for all difficulties with the lease is the appraisal required by the city that confirms that the plant has positive future prospects. Specifically, an IDW S6 is required from the city. Behind the abbreviation hides a standardized examination procedure that the “Institut der Wirtschaftsprüfer” (IDW) has developed.
There are different procedures and the one with the number 6 is a very extensive test and was specially developed to help companies in difficulty, for example when they ask for more loans from banks. Seen in this way, it is in Zanders’ own interest to present the IDW S6. However, Zanders argues the other way around: Without a long-term lease there is no trust among customers, which means that the economic outlook will deteriorate – and ultimately no good forecast in the report. Zanders and the city have been in a vicious circle for months.
Many reports from Zanders
In fact, Zanders has already submitted a number of other reports in the past. Zanders investor Tom Olander recently emphasized in an interview with this newspaper that a number of reports were already available. “It was never enough.” Olander believes it is possible that the IDW S6 report will not be sufficient either. Around one million euros have already been spent on reports. Olander cannot understand that the city insists on the IDW S6 despite the Corona crisis, in which the economic situation is changing rapidly. He does not want to present the IDW S6 before spring 2021 at the earliest. Until then, the current lease is to be continued.
However, that doesn’t work anymore. So far, the Zanders paper factory has paid to the company that emerged from the bankruptcy. This company transferred the lease – around 90,000 euros a month – to the city. This construct is intended to prevent the lease income from having to be repaid if the paper mill becomes insolvent again. There is talk of major liability risks. This triangular construct no longer exists.
Because the insolvency company now sees a liability risk for its part and is pushing for a direct contract between the city and the paper mill. Zanders’ lawyers had always emphasized that the city did not have this liability risk. The lawyer commissioned by the city contradicted this. The former mayor Lutz Urbach acted according to the assessment of this law firm. The new mayor Frank Stein hired a third lawyer to review the town’s position. With the result: the liability risk exists.
New proposal for rental regulation
In this situation, Zanders boss Olander has now brought a new construction into play: The city should not receive the rent from Zanders, but from Jool-Invest – this is a Swedish investment company that Zanders practically belongs to. Olander is the head of Jool-Invest. Whether the new triangle relationship works, whether the city is on the safe side, is being checked.
For the approximately 400 Zanders employees, the hanging game goes into the next round. Works council chairman Taner Durdu appeals to politicians to give Zanders a chance. “It’s about livelihoods and the industrial production site. If at all, I see a clear risk for the city. Zanders is worth doing. ”And it is understandable that in the midst of the corona crisis, investors have more important things to do than prepare reports. Durdu announced that the workforce will fight for the plant. Further demonstrations and vigils are possible.
– .
