P&R group

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Logo of the P&R Group GmbH

The P&R Group is a group of legally independent but interwoven investment companies from Germany ( Grünwald or Munich ) and Switzerland ( Zug ) that offered investors to invest in shipping containers on the gray capital market . The business model was allegedly based on direct investments by investors in containers that were leased back by the group. At least since 2007, the business model has been classified as a pyramid scheme. The German companies have been insolvent since spring 2018 . Since at least 2007 the group had a growing gap in the container inventory, which led to investigations into investor fraud by the Munich I public prosecutor , in the course of which the co-founder of the P&R group, the Austrian Heinz Roth, on September 12, 2018 because of the risk of escape and blackout in custody was taken, the prosecution planned in autumn 2018 indictment no later than spring 2019. against him also one was in rem arrest by the Munich District court I imposed. The bankruptcy is one of the biggest investor scandals in Germany.

history

P&R GmbH was founded in 1975 as the first company in this group . The founders were the Austrian Heinz Roth with a partner.

The P&R Group has since developed into one of the largest providers on the gray capital market . In total, the companies in the P&R Group have raised approx. 3.5 billion euros from at least 54,000 investors, the majority of whom are over 60 years old. The P&R Group was the market leader for direct investments in sea freight containers for private investors. Most of the sales took place through independent consultants and broker pools, but Volksbanks such as Volksbank Emmerich-Rees , savings banks and other banks such as Postbank or private bank Donner & Reuschel also recommended P&R containers.

Since 2004, the group has held a 40% stake in the British container leasing company, Blue Sky Intermodal (UK) Ltd, without being published in any P&R group brochures. According to the assessment of the legal expert Marc Gericke, the 2017 prospectus of the P&R Group is therefore incorrect.

It was not until 2017 that the group became subject to the prospectus requirement due to new legal regulations, also known as "Lex P&R" . For the first time in 2017, the group emphasized the high risks of the business model in sales prospectuses : There is not only a risk of a total loss of deposits, investors are also liable with their other assets, including possible personal bankruptcy . In June 2017, Stiftung Warentest pointed out the risks involved in investing in the P&R Group, after having warned against direct investments in containers in 2016.

After a sales stop at the beginning of March 2018, the Munich District Court, as an insolvency court , ordered preliminary insolvency administration for three companies in the group (P&R Container Vertriebs- und Verwaltungs-GmbH; P&R Usedcontainer Vertriebs- und Verwaltungs-GmbH; P&R Container Leasing GmbH). The opening resolutions followed on July 24, 2018. Investors and other creditors were given a deadline of September 14, 2018 to register their claims; the first creditors' meetings were scheduled for October 17 and 18, 2018 in the Olympiahalle Munich . In the course of the bankruptcy proceedings it became known that the P&R founder Roth had shifted parts of his assets to his wife. As a result, the were against him at the request Siegburger lawyers Göddecke rem arrest by the Munich District Court I imposed. The responsible public prosecutor estimates the damage suffered by the investors at 1.5 to 2 billion euros.

In May 2018, the preliminary insolvency administrator announced that around 1.6 million containers, which were sold to around 54,000 investors, are compared to only 618,000 containers. It was also announced that the company ran into financial difficulties by 2007/08 at the latest and that the increasing amount of money raised was not used to purchase containers, but to plug financial gaps and pay off other investors. At the creditors' meeting in October 2018, the insolvency administrator announced that creditors could expect a total of around € 560 million to be paid out starting in 2020, which would correspond to around a seventh of the outstanding claims.

The Handelsblatt rated the insolvency in March 2018 as the largest investment scandal in the Federal Republic. At the end of April 2019, the insolvency administrator, the Munich law firm Jaffé , informed the creditors of the intended procedure for agreeing to a settlement offer.

The since 2012 in charge of examining the financial figures auditors for years had only limited audit opinions awarded.

No insolvency proceedings have yet been filed for the P&R company in Zug.

See also

Web links

Individual evidence

  1. ↑ a b c Markus Zydra Frankfurt: Investment company P&R insolvent: tens of thousands have to tremble for their money . In: sueddeutsche.de . March 19, 2018, ISSN  0174-4917 ( sueddeutsche.de [accessed March 19, 2018]).
  2. ^ A b Elisabeth Pongratz: Munich company: Container company P&R: Insolvency proceedings opened . In: Bayerischer Rundfunk (ed.): Br.de . July 24, 2018 ( archive.org [accessed July 25, 2018]).
  3. ↑ a b Karsten Seibel: Pyramid scheme: Investors fall for a trick with phantom containers . In: THE WORLD . July 24, 2018 ( welt.de [accessed July 25, 2018]).
  4. ↑ Christoph Rottwilm: Investment scandal with container investment - P&R collected billions from tens of thousands of investors - and is now broke . In: manager magazin . March 21, 2018 ( manager-magazin.de [accessed July 25, 2018]).
  5. ↑ a b P&R founder arrested on suspicion of fraud . In: stern.de . September 13, 2018 ( stern.de [accessed September 17, 2018]).
  6. ↑ Christoph Rottwilm: P&R missing a million containers - now public prosecutors are investigating - suspected fraud: public prosecutors are investigating . In: manager magazin . May 17, 2018 ( manager-magazin.de [accessed July 19, 2018]).
  7. ^ A b Lars-Marten Nagel: Container Investments: Founder of container rental company P&R is in custody . In: Handelsblatt . September 13, 2018 ( handelsblatt.com [accessed September 14, 2018]).
  8. ↑ a b Jan Willmroth: P&R creditors can hope for 560 million euros . In: sueddeutsche.de . October 17, 2018, ISSN  0174-4917 ( sueddeutsche.de [accessed October 17, 2018]).
  9. ↑ a b c Christpoh Rottwilm: P&R: Tanglicher arrest against founder Heinz Roth - manager magazin . In: manager magazin . September 15, 2018 ( manager-magazin.de [accessed October 17, 2018]).
  10. ^ Sarah Kurz: Biggest German investor scandal: That's what lawyers advise victims of P&R containers . In: FOCUS Online . May 13, 2018 ( focus.de [accessed September 17, 2018]).
  11. ↑ a b founder of P&R in custody . In: sueddeutsche.de . September 13, 2018, ISSN  0174-4917 ( sueddeutsche.de [accessed September 17, 2018]).
  12. ↑ a b Gertrud Hussla, Lars-Marten Nagel: Container agent: Tens of thousands of investors invested in P & R - now the financial services provider is insolvent . March 19, 2018 ( handelsblatt.com [accessed March 19, 2018]).
  13. ↑ Company history. P&R Group, accessed March 19, 2018 .
  14. ↑ a b c Christpoh Rottwilm: P&R: Tanglicher arrest against founder Heinz Roth - manager magazin . In: manager magazin . September 15, 2018 ( manager-magazin.de [accessed September 17, 2018]).
  15. ↑ Massimo Bognanni: P & R-Insolvency: Investors are threatened with bankruptcy of billions. In: Tagesschau.de. ARD , March 19, 2018, accessed on March 19, 2018 .
  16. ↑ a b Container: Insolvency applications with the market leader P&R. In: test.de . March 19, 2018. Retrieved March 21, 2018 .
  17. ↑ Jan Willmroth, Markus Zydra Frankfurt: P&R investors can assert claims . In: sueddeutsche.de . July 25, 2018, ISSN  0174-4917 ( sueddeutsche.de [accessed on August 6, 2018]).
  18. ^ A b Christian Kirchner: Investment scandal: How the container specialist P&R got into distress . In: Capital.de . June 11, 2018 ( capital.de [accessed July 19, 2018]).
  19. ↑ a b Markus Zydra Frankfurt: P & R held participation secret . In: sueddeutsche.de . June 4, 2018, ISSN  0174-4917 ( sueddeutsche.de [accessed July 19, 2018]).
  20. ↑ Tim Bartz, Martin Hesse, Anne Seith: Full load: Why 50,000 people fear for their money . In: Der Spiegel . tape 12 , no. 2018 , March 17, 2018, p. 77 ( spiegel.de ).
  21. ↑ Container investment : New brochures reveal pitfalls at P&R. In: test.de . June 20, 2017. Retrieved March 19, 2018 .
  22. ↑ Direct investments in containers: Long lucrative, now in crisis. In: test.de . July 19, 2016, accessed March 19, 2018 .
  23. ↑ Marc Gericke: P&R Transport-Container GmbH: What does the sudden stop mean for investors? In: KapitalRecht . Siegburg March 12, 2018.
  24. ↑ Container: Market leader P&R hires sales. In: test.de . March 8, 2018, accessed March 19, 2018 .
  25. ↑ Christoph Rottwilm: P & R: Bankruptcy, dates for meetings of creditors . In: manager magazin . July 24, 2018 ( manager-magazin.de [accessed July 30, 2018]).
  26. ↑ Jan Willmroth, Markus Zydra: Investors in the investment company P&R fear for their money. sueddeutsche.de , May 7, 2018, accessed on May 17, 2018 .
  27. ↑ P&R insolvency administrator suggests a settlement to investors. In: Handelsblatt. April 29, 2019, accessed May 1, 2019 .
  28. ↑ Settlement proposal for 54,000 creditors: Mail from the insolvency administrator - what should P&R victims do? In: Manager Magazin. April 29, 2019, accessed May 1, 2019 .
  29. ↑ Test (magazine) : [1] , dated February 7, 2019, loaded on July 10, 2019