The sales agreement between Bfw and Meleghy was signed on 2 August 2013 following the opening of insolvency proceedings. The insolvency plan, which will be submitted by 16 August 2013, still needs to be approved by the creditors’ meeting.

The Dentons team, led by German Managing Partner Andreas Ziegenhagen, is advising Bfw in the protective shield proceeding and designing the insolvency plan on behalf of them. In addition, a trust company of the Dentons group is holding the shares of Bfw as a double-sided trustee.

Bwf had become a recognized partner of the German automotive industry over its 100 year history. It supplies motor vehicle parts such as subassemblies, prototypes, and spare parts to the car industry. Its main customers include Audi, BMW, Daimler, Opel and Volkswagen.

Meleghy automotive is a medium-sized family business with several decades of experience in the automotive and sheet metal forming industry. With the acquisition of Bfw, Meleghy Automotive will be able to further extend its leading position in the marketplace.

Following the recent implementation of the German reform of insolvency law ESUG, Dentons has advised on several successful protective shield proceedings in the market, including the first protective shield proceeding in the solar industry for SOLARWATT AG.