MEG AG

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MEG AG

logo
legal form Corporation
founding 2003
resolution 2009
Reason for dissolution insolvency
Seat Kassel GermanyGermanyGermany 
management Mehmet Göker
sales Financial distribution

MEG AG was a German financial distributor for private health insurance companies based in Kassel .

history

The AG emerged from the sole proprietorship MEG Versicherungsspezialist e. Founded in 2003 by Mehmet E. Göker . K. for brokerage with insurance companies and building society contracts . "MEG" are the founder's initials . In 2004 he had a turnover of around 109,000 euros . At the end of 2005 MEG eK had 40 employees.

In 2006, Göker founded MEG AG with share capital of € 50,000 and became its CEO. At the end of the year the company had 150 employees and in the short financial year generated sales of € 11.2 million and a loss of € 2.1 million. In 2007 sales of € 33.3 million resulted in a profit of € 0.3 million. In 2008 MEG reached its largest business activity with € 53.7 million.

In 2007, law enforcement began to take an interest in the company. First, the allegation of bogus self-employment was investigated and in April the company premises and the private apartments of several board members were searched. The proceedings ended in August 2008 with a conviction of Mehmet E. Göker at 720 daily rates of 1000 € because of the evidence that the supposedly self-employed sales staff were bound by instructions.

insolvency

In 2009 there were several cases of forgery of documents by employees when submitting customer contracts. Due to these incidents and financial problems, Göker resigned as chairman on September 11, 2009. The annual loss at the end of August was € 418,022.

On September 25, 2009, at the insistence of the insurance company Axa , which was MEG's largest creditor with 11 million euros, MEG AG was completely taken over by Aragon AG for € 1 without an intensive review . AXA held a 28 percent stake in Aragon. Aragon then granted MEG a subordinated restructuring loan of € 6.5 million, secured with MEG's interested party records. These data records were transferred to Inpunkto GmbH, another Aragon subsidiary, on December 7, 2009 after the bankruptcy. An initial deferral agreement was concluded with the five main creditors for a total of € 16 million. However, when further liabilities in the double-digit millions were discovered shortly afterwards, the restructuring of the MEG finally failed.

On October 28, 2009 the provisional administration by the provisional insolvency administrator Fritz Westhelle was ordered by a court and on January 1, 2010 the insolvency proceedings were opened. MEG AG had a total debt of around € 50 million. The bankruptcy was negotiated by the Kassel District Court. The current status is a remuneration statement from the insolvency administrator for March 26, 2010, the day after the creditors' meeting , at which 41 of the 670 registered creditors appeared.

Documentation

Individual evidence

  1. ↑ a b c d e f Insurers pay millions upon request , Handelsblatt , accessed on June 12, 2012
  2. ↑ Entry in the commercial register of the Kassel District Court on July 13, 2006 under number 13995
  3. ↑ a b Annual financial statements of MEG AG 2007 in the Federal Gazette , accessed on September 15, 2012
  4. ↑ a b The new mesh of Mehmet Göker , Handelsblatt from September 7, 2012, accessed on September 13, 2012
  5. ^ Allegations against Aragon ( Memento of November 1, 2009 in the Internet Archive ), Financial Times of October 30, 2009, accessed on September 13, 2012
  6. ↑ Federal Gazette, annual financial statements of Inpunkto GmbH, Mönchengladbach for the financial year from January 1, 2009 to December 31, 2009 , accessed on November 13, 2012
  7. ↑ Finanzwelt online ( Memento of the original dated December 28, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. , accessed September 15, 2012 @1@ 2Template: Webachiv / IABot / www.finanzwelt.de
  8. ↑ a b MEG AG files for bankruptcy - what does that mean for customers? on online-pkv.de, accessed on June 12, 2012
  9. ↑ a b MEG AG: Probably 12.99 percent for Göker creditors ( memento of the original dated June 6, 2012 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. on dasinvestment.com, accessed June 12, 2012 @1@ 2Template: Webachiv / IABot / www.dasinvestment.com
  10. ↑ References to a deadline can be found in the files of the insolvency proceedings at least via the online portal Justizportal "Insolvenzbeschwermachungen" , accessed on June 12, 2012 using the search mask: Federal states: "Hessen", court: "Kassel" and the case number " 661 IN 381/09 "could not be found.