The Munich court has appointed lawyer Axel Bierbach from the law firm Müller-Heydenreich Bierbach & Kollegen as interim insolvency administrator on behalf of FTI, a spokesman for the law firm confirmed.
Mr. Bierbach is considered one of the most experienced insolvency administrators in Germany and the law firm has already been honored several times as a “leading law firm” in the field of “restructuring and insolvency”.
Mr Bierbach himself has already overseen numerous insolvencies, most recently that of sports retailer Sportscheck for which he managed to find a buyer.
In addition to the FTI, 5 vor Flug and Big Xtra brands, the Drive FTI and Cars and Camper brands are also affected by the bankruptcy. No insolvency petitions have yet been filed for FTI Ticketshop or its subsidiary Meeting Point International, which are currently under review, according to information from Munich. However, a provisional insolvency application could be filed for these brands as well in the coming days.
